Fed's Beige Book - Economic snapshot

The term Beige Book refers to the report, "Summary of Commentary on Current Economic Conditions by Federal Reserve District," published by the Federal Reserve Board (FRB) eight times a year. The first Beige Book of 2006 was released today. The book consists of a Summary and a report by each of the twelve Federal Reserve Districts (Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco) on the economy in their respective regions. About Hawaii, the San Francisco District report notes:
District travel and tourism activity remained vigorous, especially in Hawaii, where growth in visitor numbers and spending has been setting records and hotel occupancy rates have continued to rise.
...residential real estate markets showed little or no sign of cooling, and conditions reportedly heated up further in some markets, such as Oregon and especially Hawaii.
The Beige Book is issued two Wednesdays before each Federal Open Market Committee (FOMC) meeting. While the FRB is responsible for the discount rate and reserve requirements, the FOMC is responsible for open market operations. Together, the Federal Reserve sets monetary policy and the interest rate.

Summary of Commentary on Current Economic Conditions by Federal Reserve District (Summary & 12 District Reports)



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