Q: "the beige books" done by each regional bank are and what valuable information they contain?

The Beige Book, officially known as the Summary of Commentary on Current Economic Conditions, is a report published by the Federal Reserve Board eight times a year. The book is released two weeks before the Federal Open Market Committee (FOMC) meets to decide on monetary policy.

Each of the 12 regional Federal Reserve Banks gathers anecdotal information on current economic conditions in their District through reports from bank and branch directors and interviews with key business contacts, economists, market experts, and other sources. The Beige Book summarizes this information by District and sector.

The Beige Book covers the following sectors: Consumer Spending Manufacturing Real Estate and Construction Banking and Finance Agriculture and Natural Resources Labor Markets Wages and Prices

The information in the Beige Book is qualitative rather than quantitative, meaning it encapsulates the experiences and opinions of business owners, economists, market experts, and others, instead of presenting hard data. Because it is based on anecdotal information, the Beige Book provides insights into the economy that might not be evident from statistical data alone.

The Beige Book aids the FOMC in its monetary policy deliberations by providing timely knowledge about the economy's performance, about specific industries in each district, and about the economic effects of policy decisions.

For more information, you can visit the Federal Reserve's [https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20231018.pdf](Beige Book page here)