A report published by the Federal Reserve that summarizes economic conditions based on statistical and economic data. The information used to generate the Beige Book is submitted by each of the 12 Federal Reserve Banks and is reported by district and business sector. Each Federal Reserve Bank president takes turns producing an overall summary that is included in the report, released eight times a year. The Beige Book is one of the most anticipated and scrutinized market indicators because it heralds a change in monetary policy. Available on the Web at www.federalreserve.com.