A Federal Reserve publication released eight times per year, approximately two weeks before each Federal Open Market Committee (FOMC) meeting, summarizing current economic conditions across the 12 Federal Reserve districts. The report compiles anecdotal information gathered from business contacts, economists, market experts, and other sources on topics including consumer spending, manufacturing, employment, wages, and real estate. Traders and analysts use the Beige Book to gauge the Fed's perception of the economy and to anticipate potential shifts in monetary policy.
Example
“The latest Beige Book noted that several districts reported slowing hiring and moderating wage growth, leading bond traders to increase bets on a Federal Reserve rate pause.”