Or maybe a light gray. That’s my take on the tone of the upcoming Beige Book, the report prepared for the FOMC as they ready for their next meeting. I’d expect the Beige Book to highlight still very considerable credit concerns and slow economic growth with moderating concerns over inflation as commodity prices decline.
CNBC is highlighting comments from Baker Hughes saying comments from their CEO at an industry conference were taken out of context and damage is not particularly bad at their facilities.