Independent thinking for complex markets and current events
by Mike Shedlock The Fed Beige book shows a mostly steady economy in 6 of 12 regional reports. “Steady” is in context of the the worst Beige Book in years. Please consider the Fed Beige Book, a Summary of Commentary on Current Economic Conditions by 12 Federal Reserve Districts. Overall Economic Activity Overall Economic Activity On …
by Mike Shedlock Let’s compare current Beige Book conditions to those at the beginning of the Great Recession. Beige Book January 2008 Let’s take a look at the Fed’s Beige Book Summary of Economic Conditions in the 12 Fed districts in January of 2008. The Great Recession had begun. Reports from the twelve Federal Reserve Districts suggest …
by Dismal-Jellyfish https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20230906.pdf This report was prepared at the Federal Reserve Bank of Kansas City based on information collected on or before August 28, 2023. Highlights: “Some Districts highlighted reports suggesting consumers may have exhausted their savings and are relying more on borrowing to support spending.” “Bankers from different Districts had mixed experiences with growth …
by Dismal-Jellyfish https://www.federalreserve.gov/monetarypolicy/beigebook202307.htm Overall Economic Activity Overall economic activity increased slightly since late May. Five Districts reported slight or modest growth, five noted no change, and two reported slight and modest declines. Reports on consumer spending were mixed; growth was generally observed in consumer services, but some retailers noted shifts away from discretionary spending. Tourism and …