3. Regional Banks in the Federal Reserve System gather anecdotal information

5. Set the monetary stance by fixing the overnight borrowing rate (Short Term lending rates)

7. New York

8. Philadelphia

9. Cleveland

10. Richmond

11. Atlanta

12. Chicago

13. St. Louis

14. Minneapolis

15. Kansas City

16. Dallas

18. Tourism

19. Non Financial Services

20. Manufacturing

21. Real Estate and Construction

22. Banking

23. Financial Services

24. Agriculture

26. Interpretation

27. Interpreting the Beige Book… Consumer spending and Tourism • Consumer spending is the largest part of aggregate demand or effective demand at the macroeconomic level • Durable: Auto sales; Non durable goods: Retail sales • Tourism activity: business and leisure • Reasons for the change in consumer spending Nonfinancial Services • Port activity • Health care services • Transportation services: rail road shipments (industrial activity) • Domestic volumes of freight and parcels

29. Consumer goods

30. Steel production

32. Home prices - Commercial rental prices

33. Home re-modelling activity - Industrial construction

35. Interpreting the Beige Book… Employment, Wages and Prices • Labour market conditions • Wage rates • Unemployment figures • Input prices pressures - Ability to pass on the price rise

36. Interpreting the Beige Book

38. Consumer confidence

40. Hiring

41. Input costs

44. Commercial RE

47. Beige Book Index: 2006 v/s 2008 (recession) Consumer Spending and Tourism Real Estate and Construction Manufacturing

48. Significance

49. Significance of the Beige Book…

50. Impact of the Beige Book..

52. Rarely is any new statistical data presented, only anecdotal reports

53. Filled with measured "Fed-speak“

54. Specific industry conclusions are hard to draw from the report

55. Each Fed district can use its discretion on what to include in its report

57. Click anywhere on the image to see this video

58. Thank You By: Adhiraj Singh ChandniGoel GayatriSahdev KartikeyBhargava Shine Chabbra