The Federal Reserve will release its latest Beige Book at 2:00 p.m. ET.
The Beige Book is a compilation of anecdotes on the economies in the Fed’s 12 districts, spanning various industries including manufacturing, real estate, and consumer spending.
It’s worth paying attention to because it’s usually published two weeks ahead of the Fed’s policy meeting, and informs the FOMC’s assessment of the economy when it makes its policy decision.
Later this month, the Fed is widely expected to raise interest rates. And in a speech earlier on Wednesday, Fed chair Janet Yellen confirmed that she is support of a rate hike.
Yellen acknowledged progress in the labor market, and said that if the Fed delayed raising rates, it could have to suddenly hike later on — disrupting markets and possibly causing a recession.
from Business Insider http://ift.tt/1l8xfQU