The Plural of Anecdotes Is Beige

By |2017-07-19T15:47:47-04:00July 19th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

As noted before, the Federal Reserve’s Beige Book collection of local bank district anecdotes are fascinating for all the wrong reasons. What is revealed is not the state of the economy, but rather the state of how policymakers perceive or often wish the economy was at various points. If the 2007 Beige Books are a collective case study in denial, [...]