Monday , 25 November 2024
Home Forex ICYMI – Fed’s Beige Book eyes growth slowing, consumers tightening belts
Forex

ICYMI – Fed’s Beige Book eyes growth slowing, consumers tightening belts

From the ForexLive glossary:

  • The Beige Book is a report published by the Federal Reserve (Fed) eight times a year, that provides an overview of economic conditions in each of the Fed’s twelve districts.
  • The report is compiled using information from the Fed’s business contacts, economists, and other experts, and covers a wide range of topics including employment, wages, prices, and consumer spending.
  • The Beige Book is used by the Fed to help inform its monetary policy decisions, and it is also closely watched by economists, investors, and businesses.
  • The report is unique in that it provides a regional perspective on the economy, rather than just a national one. It’s called “beige” because of the color of its cover.
  • The report is released two weeks before the Federal Open Market Committee (FOMC) meeting, and it’s widely used by market participants as a source of information to anticipate the Fed’s monetary policy.

The latest one dropped on Wednesday US time:

Check out that link for the summary, though when the report finds growth as rising at a “slight to modest pace,” with five of the 12 Fed districts seeing“flat or declining activity” it’s a nod to the rate cut that is not too far off.

Although, there may be a hurdle to overcome:

If I was Powell I’d cut in July, on a middle-finger basis, but that’s probably just me. The worst that can happen is the new guy fires him and he saunters into a 7 figure contract at an investment bank.

This article was written by Eamonn Sheridan at www.forexlive.com.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Eurostoxx futures +0.5% in early European trading

German DAX futures +0.5%French CAC 40 futures +0.4%UK FTSE futures +0.1%The mood...

Gold price sticks to heavy intraday losses amid risk-on mood, holds above $2,650 level

Gold price (XAU/USD) retreats after touching a nearly three-week high, around the...

USD/INR faces some selling pressure on MSCI rebalancing and softer US Dollar

The Indian Rupee (INR) extends the rally on Monday, bolstered by the...

ECB’s Lane: Monetary policy should not remain restrictive for too long

Barring new geopolitical or political risks, a large part of the final...