The Fed's Beige Book is the anecdotal outline of the economy, broken down by region:
- Economic activity continued to expand from mid-May through June
- Manufacturing activity uneven; layoffs in manufacturing and energy
- Lower energy prices helping to boost spending in some districts
- Strong dollar hurting spending in some districts
- Employment increased or was steady in most districts; tighter job conditions reported in four districts
- Prices remained steady since the previous report
- Data collected by Atlanta Fed up to July 3
- Full text
This sounds like a mediocre economy. Even the biggest dollar bull would have a hard time finding something here to get excited about.
In just less than an hour, the Fed's Williams speaks on the economic outlook.