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Beige Book Essay

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Below is an essay on "Beige Book" from Anti Essays, your source for research papers, essays, and term paper examples.

Beige Book is the summary of the commentary on current economic conditions comprised by twelve federal districts. The book is essentially a summary that is published eight times a year and is always published 2 week just before each of the Federal Open Market Committee. Each Federal Reserve branch is responsible for gathering essential information relating to important industries in their geographical area. For example, Dallas might report out on oil and energy industry since their geographical area has a heavy investment and presence of oil and energy industry. Each branch gathers data by interviewing business, economists, market experts, and many other sources. All of the data from the twelve districts is gathered and a summary is prepared by a designated Federal Reserve Bank on a rotating basis. In this paper, I will define the Beige Book and what the report includes in its seven sectors.
Beige Book is essentially a survey of the economic conditions. The report is published eight times a year in the following months: January, March, April, June, July, September, and October and is released just before the Federal Open Market Committee. The original and the actual name of the report is the Summary of Commentary on Current Economic Condition. Beige book is how most people refer to the report. Most important fact to be noted, Beige Book does not provide any numerical data but rather just a summary of the economic conditions.
The report first started being made available to outsiders of the Federal Reserve in 1985. All the thanks for the availability of the Beige Book go to Paul Cox, a former Dow Jones reporter. He requested the report from the Federal Reserve, so, he can report out on the report on the report and was ultimately granted access to the Beige book. Consequently, other journals also started to demand access to Beige Book and were also eventually grated access to the Beige Book as well.   Although the Summary of Commentary on Current Economic...

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