Beige Book
Beige Book is a report on current economic conditions gathered from each federal reserve bank on, businessmen, economists, and market experts. The beige book summarizes this information by district and sector. The Fed uses this data to help determine interest rate policy at FOMC meetings. The FOMC meeting takes place 2 weeks after the beige book release. The beige book is released at 2:00 pm ET on the Wednesday less than two weeks prior to an FOMC meeting. The beige book is released 8 times a year.
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The Beige Book was made public in 1983 which is other wise known as the Summary of Commentary on Current Economic Conditions by Federal Reserve District. The Beige Book is considered anecdotal evidence as to the condition of the broad markets. This report should be taken in the context of other indicators to get the complete picture. Many investors pay close to attention to the tone or "Fed Speak" to predict any future actions the Federal Reserve Board may take.