16 Oct 2013
Flash: Fed Beige Book more significant - Nomura
FXstreet.com (London) - Research teams at Nomura noted the importance of tomorrows Beige Book.
Key Quote:
"We expect the Fed Beige Book, prepared for the 29-30 October Federal Open Market Committee (FOMC) meeting, to help describe the current state of economic activity".
"Since the previous Beige Book published for the 17-18 September FOMC meeting, incoming data suggest a steadily improving labor market, and continued optimism in manufacturing sentiment".
"However the government shutdown may weigh on activity in some districts. In light of limited government produced data releases, the anecdotal evidence gleaned from this Beige Book will be even more significant in determining the state of economic activity".
Key Quote:
"We expect the Fed Beige Book, prepared for the 29-30 October Federal Open Market Committee (FOMC) meeting, to help describe the current state of economic activity".
"Since the previous Beige Book published for the 17-18 September FOMC meeting, incoming data suggest a steadily improving labor market, and continued optimism in manufacturing sentiment".
"However the government shutdown may weigh on activity in some districts. In light of limited government produced data releases, the anecdotal evidence gleaned from this Beige Book will be even more significant in determining the state of economic activity".