What is A Federal Reserve Beige Book?

The Federal Reserve 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 Beige Book provides a detailed overview of the economic conditions in each of the Federal Reserve’s twelve districts.

Key Features:

  • Regional Economic Activity: The report compiles anecdotal information collected from various sources, including interviews with key business contacts, economists, market experts, and other sources.
  • Sector Analysis: It covers a wide range of economic sectors, including manufacturing, agriculture, services, real estate, finance, and employment.
  • Trends and Changes: The Beige Book identifies trends, highlights changes in economic activity, and notes any emerging concerns or positive developments in the economy.
  • Policy Guidance: While the report does not contain specific policy recommendations, it provides valuable context for the Federal Reserve’s monetary policy decisions.


  • Inform Policy Decisions: It helps Federal Reserve policymakers understand the current economic conditions in different regions of the country, providing a nuanced view that complements quantitative economic data.
  • Public Information: It offers businesses, economists, and the general public insights into the economic environment, helping them make informed decisions.
Overall, the Beige Book is a vital tool for assessing the economic landscape and guiding monetary policy in the United States.

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