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What is the Beige Book?
District banks have been printing summaries of the economic conditions
in their districts since 1970. Initially this “Red Book” was
prepared for policymakers only and was not intended for public consumption.
It was made public in 1983. To mark this change, the color of the cover
was changed and the publication became known as the Beige Book.
The Beige Book is released two weeks prior to each FOMC meeting eight
times per year. Each Federal Reserve bank gathers anecdotal information
on current economic conditions in its district through reports from
bank and branch directors and interviews with key businessmen, economists,
market experts, and other sources. The Beige Book summarizes this information
by district and sector. It is not a commentary on the views of Federal
Reserve officials.
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