The latest Fed Beige Book stated in part: "On balance, reports from Federal Reserve Districts
suggested that the economy expanded at a modest pace through the end of August.
The report presents consolidated survey results from 706 financial institutions in the Atlanta, Boston, Cleveland, Dallas, Kansas City, Minneapolis and Richmond Federal Reserve districts
The so-called beige book, which surveys anecdotal reports in the 12 Federal Reserve districts
, also reported US companies and the state combined had hired 222,000 new employees in June -- significantly more than economists had predicted.
With a bit of digging, I retrieved a wonderful Government Publishing (then Printing) Office (GPO) document from 1914 titled "Location of Reserve Districts
in the United States: Letter From the Reserve Bank Organization Committee, Transmitting the Briefs and Arguments Presented to the Organization Committee of the Federal Reserve Board, Relative to the Location of Reserve Districts
in the United States" (fraser.stlouisfed.org/docs/historical/federal%20reserve%20history/rboc_locationdistricts.pdf).
WASHINGTON, June 1 (KUNA) -- The US Federal Reserve on Wednesday described "modest economic growth" across the 12 Federal Reserve Districts
in its 'Beige Book' report since March.
Likely not, because (i) Federal Reserve Districts
do not correspond to national, or even state borders, and (ii) the (hypothetical) accumulation of ISA balances in New York is associated with the fact that New York is a financial center, rather than with an especially strong economy in the New York Federal Reserve District
The Federal Advisory Council is comprised of a representative from each of the 12 Federal Reserve Districts
. The council consults periodically with the board of Governors of the Federal Reserve System on business conditions and issues related to the banking industry.
''Reports from the 12 Federal Reserve districts
suggest that the economic activity continued to expand moderately from November through December,'' the central bank said in the latest Beige Book.
The estimation results indicate that transcription effects are indeed robust, regardless of the regional indicator used, and the size of Federal Reserve districts
matters during FOMC deliberations in that larger districts may be more likely to voice agreement with a given policy proposal.
With the exception of a few bright spots, commercial real estate continued to weaken across the 12 Federal Reserve districts
of Boston, New York, Philadelphia, Cleveland, Richmond, Va., Atlanta, Chicago, St.
Two thirds of the Federal Reserve districts
across the U.S.