Report for 9th Fed Reserve District
July 28th, 2010
The “Beige Book” report for the 9th Federal Reserve District, HQ’d in Minneapolis, is out. It’s a bunch of anecdotes put together for the economic whizzes — what I don’t understand is what use such an informal compilation of snippets would be? If they’re looking for guidance in making their decisions, I would think they’d want something with greater substance?!?!?! Or if they want “info light,” just go for a drive around the district!
The name, “Beige Book,” on its own draws analogies to depression of another variety — maybe whoever came up with that wasn’t thinking beyond this little task, but it leave us with no doubt what’s in between those covers! Pass the Prozac!
Three sentences stood out:
In contrast, a heavy infrastructure contractor in Minnesota and Wisconsin saw improvement in its market segment.
… and…
An engineering firm that supports the mining and energy sector noted an increase in activity.
… and…
A Minnesota energy management consultant noted an increase in orders.