Report on current economic conditions in each of the 12 Federal Reserve districts covering the entire US. Regional Banks in the Federal Reserve System gather anecdotal information based on surveys of executives, economist and market participants. The Beige Book summarizes this data into a relatively short document, giving a picture of economic trends and challenges faced by different parts of the nation.

In addition to providing useful information on the economy, the report is also a window into how FOMC members may vote at the next interest rate policy meeting. Because each report is based on anecdotal information as much as statistics, it is subjective and may reflect opinions of district governors. As the only comprehensive report made available to the public, the Beige Book provides a rare opportunity for markets to better understand the Federal Reserve and its views on the economy.

Relevance: Rarely affects markets
Release schedule : 2pm (EST); 8 times a year, 2 Wednesdays before each FOMC meeting
Source of report : Board of Governors of the Federal Reserve System
Web Address : http://federalreserve.gov/
Address of release : http://federalreserve.gov/policy.htm (click "Beige Book") or
http://www.minneapolisfed.org/bb/

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