Oops - Forgot to post links to the most recent Fed Beige Books
One of the things I want to reliably do with this blog is maintain connections to the mix of states in our region - the states who either don't have economic K-12 councils or don't have much coverage for rural districts. One way to connect is with links to the Federal Reserve's Beige Books - each region's quick summary of economic conditions in our area over the past couple of months.
Jay LeBlanc
7/25/20252 min read
As I noted above, I will try (more consistently) to post links each time to the newest Beige Book release by the Federal Reserve districts here in the middle of the country. They may not reflect major changes from one cycle to the next, but they are a great way to update students about economic conditions AND expose them to the mix of businesses found in a single state or region.
Initially, I'm going to focus on two Federal Reserve districts:
9th District (based in Minneapolis) - covers Montana, North Dakota, and South Dakota (along with areas further east)
10th District (based in Kansas City) - covers Colorado, Wyoming, northern New Mexico, Nebraska, Kansas, and Oklahoma
If I get more interest beyond that I'm happy to expand, but for now that's a big enough reach in the western U.S.
The Beige Book links -
9th District - https://www.minneapolisfed.org/beige-book-reports/2025/2025-07-su
Their summary: "Economic activity increased slightly from late May through early July. Five Districts reported slight or modest gains, five had flat activity, and the remaining two Districts noted modest declines in activity. That represented an improvement over the previous report, in which half of Districts reported at least slight declines in activity. Uncertainty remained elevated, contributing to ongoing caution by businesses. Nonauto consumer spending declined in most Districts, softening slightly overall. Auto sales receded modestly on average, after consumers had rushed to buy vehicles earlier this year to avoid tariffs. Tourism activity was mixed, manufacturing activity edged lower, and nonfinancial services activity was little changed on average but varied across Districts. Loan volume increased slightly in most Districts. Construction activity slowed somewhat, constrained by rising costs in some Districts. Home sales were flat or little changed in most Districts, and nonresidential real estate activity was also mostly steady. Activity in the agriculture sector remained weak. Energy sector activity declined slightly, and transportation activity was mixed. The outlook was neutral to slightly pessimistic, as only two Districts expected activity to increase, and others foresaw flat or slightly weaker activity."
10th District - https://www.kansascityfed.org/surveys/beige-book/tenth-district-beige-book/
Their summary: "Economic activity in the Tenth District was mostly unchanged, with some rebound in consumer spending and financial activity following declines in prior months. Job gains were subdued, and wage pressures were expected to diminish. Labor availability was reportedly much higher, with the notable exception of the skilled trades for which job openings far exceeded the number of workers for hire. Credit quality was mostly stable despite some deterioration noted in consumer segments and declines in repayment rates on agriculture loans tied to crop farming. Oil and gas activity declined as prices fell on net. However, volatility in oil prices in recent weeks prompted an increase in hedging activity, which contacts indicated will provide some support to profitability over the near term. Prices grew at a moderate pace, with reported expectations for acceleration in price growth during the second half of the year."