Fed Says Economy Rolling

Nov. 30, 2005 — -- The Federal Reserve said in its Beige Book report today that the nation's economy seems to be rolling along well.

The report, typically issued about two weeks before the next meeting of the Fed governors paints a picture of the economic environment through anecdotal reports from the central bank's 12 regional branches.

Some highlights:

The next Beige Book will be issued in January 2006.

How much does this matter? This is moderately important. The anecdotal information is used by key FOMC members as they meet to discuss interest rate hikes. The next interest rate meeting is scheduled for Dec. 13. 

Definition: Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its district through reports from bank and branch directors and interviews with key business contacts, economists, market experts, and other sources.