Only Three of 12 Fed Regions Are Growing, Two Slightly

The Fed’s Beige Book shows a weakening economy

Please consider the Fed’s Beige Book for July 2025.

What is the Beige Book?

The Beige Book is a Federal Reserve System publication about current economic conditions across the 12 Federal Reserve Districts. It characterizes regional economic conditions and prospects based on a variety of mostly qualitative information, gathered directly from each District’s sources. Reports are published eight times per year.

What is the purpose of the Beige Book?

The Beige Book is intended to characterize the change in economic conditions since the last report. Outreach for the Beige Book is one of many ways the…

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