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Beige Book

Definition: Also called the Summary of Commentary on Current Economic Conditions, the Beige Book is a summary of anecdotal information collected by each Federal Reserve Bank in its district from business contacts, economists, and financial experts.

Description: The report includes commentary on the current state of retail sales, consumption, manufacturing, the labour market, real estate, banking, finance, agriculture, energy, and natural resources. The information in the Beige Book report is broken down by region and economic sector.

Influence: The Beige Book is used to evaluate the economic efficiency of different US regions and to predict future Federal Open Market Committee (FOMC) monetary policy decisions. When there is speculation of possible rate changes, for example, close attention is paid to the section on wages and price levels.

Market Impact: Low

Released: Eight times per year on Wednesdays at 19:15 GMT, two weeks before every FOMC meeting

Source: The Federal Reserve

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