The consolidated economic report from the 12 Federal Reserve Districts (Beige Book) stated “economic activity expanded at a modest to moderate pace across the 12 Federal Reserve Districts in January and February“. The previous report stated “economy continued to expand from late November through the end of the year, with 11 Districts reporting modest to moderate gains and Dallas recording a robust increase“.
Analyst Opinion of this month’s Beige Book
Seems like the rate of growth was little changed from the last report. Note the following statement from the Federal Reserve:
This document summarizes comments received from contacts outside the Federal Reserve System and is not a commentary on the views of Federal Reserve officials.
Please see the end of this post for words the Federal Reserve uses when the economy is entering a recession. The Beige Book completely missed the 2001 recession, and was late in seeing the Great Recession.
This report was prepared at the Federal Reserve Bank of San Francisco based on information collected on or before February 26, 2018. The summary for this release:
