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Has the Beige Book become disconnected from economic data?
Abstract: The Federal Reserve's Beige Book, a key tool for identifying U.S. business-cycle shifts, has traditionally aligned with economic data. However, postpandemic, its economic characterizations often appear weaker than what hard data indicated, raising concerns of divergence from official statistics.
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https://www.dallasfed.org/research/economics/2025/0527
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Provider: Federal Reserve Bank of Dallas
Source: Dallas Fed Economics
Publication Date: 2025-05-27