Legal Definitions - Summary of Commentary on Current Economic Conditions

The Summary of Commentary on Current Economic Conditions is a report published by the Federal Reserve that provides a summary of the economic conditions in each of the 12 Federal Reserve Bank regions. It is also known as the "beige book".

The report is compiled by gathering information from various sources such as reports submitted by bank and branch directors, interviews with economists, market experts, and key business contacts, and other sources. The beige book is published eight times each year.

For example, if the beige book reports that the economy in a particular region is growing, it means that businesses in that region are doing well, people are finding jobs, and the overall economic activity is increasing. On the other hand, if the beige book reports that the economy in a particular region is slowing down, it means that businesses are struggling, people are losing jobs, and the overall economic activity is decreasing.