Fed’s anecdotal survey correlates with economic data – research
Study says Beige Book’s “soft” data is “actually quite firm”
Sentiment from the US Federal Reserve’s Beige Book moves in tandem with GDP, according to research from the Federal Reserve Bank of St Louis.
Published eight times a year, the Beige Book provides a narrative of economic conditions in each of the Fed’s 12 districts. It generally consists of qualitative information gathered from sources such as commercial bank officials, economists and industry leaders.
The St Louis Fed’s research, published on January 7, uses textual analysis to provide
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