Does the Beige Book move financial markets?

RESEARCH - In the Atlanta Fed Working Paper 'Does the Beige Book Move Financial Markets?' the authors examine whether the descriptive content of the Beige Book affects asset prices. Their results indicate that more positive Beige Book reports on economic growth are associated with increases in interest rates particularly long-term rates, even after controlling for other macroeconomic data releases.

Does the Beige Book move financial markets?

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