This is an archived article that was published on sltrib.com in 2016, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

The boards of directors at nine of the 12 regional Federal Reserve banks last month sought an increase in the rate on direct loans from the Fed to 1.25 percent from 1 percent, minutes released by the U.S. central bank Tuesday show.

The Atlanta Fed joined the calls for an increase in the discount rate, pushing the number of regional banks asking for a hike to its highest since December 2015.

That month was the last time the Fed raised the federal funds rate, a separate interest rate that is its primary policy tool. Discount rate votes can be viewed as a signal of whether a bank's president favors a change in the main rate.

"Most directors noted tighter U.S. labor markets across skill levels and different sectors, accompanied by upward pressures on compensation for many categories of workers," according to the minutes. Most directors recommended the increase "in light of actual and expected strengthening in economic activity and labor markets, which should foster a gradual return of inflation to 2 percent over the medium term."

Atlanta joined Boston, Philadelphia, Cleveland, Richmond, St. Louis, Kansas City, Dallas, and San Francisco in asking for a discount rate increase. Those banks are home to all four regional presidents who currently hold rotating votes in the policymaking Federal Open Market Committee.

The boards of the New York, Minneapolis and Chicago Feds voted to keep the rate unchanged. Of the presidents from those banks, only New York's William Dudley has a vote on policy.

The discount rate is the interest rate charged to banks and depository institutions for loans received from Fed's lending facility.

The Board of Governors in Washington must approve any change in the discount rate. They didn't approve any change when they met in September and have left it at 1 percent since December.