A more thorough explanation:

The Beige Book is a publication by the Federal Reserve that summarizes the economic conditions in each of the 12 Federal Reserve Bank regions. It is published eight times each year.

The Federal Reserve Bank gathers information from reports submitted by bank and branch directors, interviews with economists, market experts, and key business contacts, and other sources. The Beige Book provides a snapshot of the current economic conditions in each region.

For example, if the Beige Book reports that the economy in the Midwest region is growing, it means that businesses in that region are doing well, people are finding jobs, and the overall economic outlook is positive. On the other hand, if the Beige Book reports that the economy in the Northeast region is slowing down, it means that businesses in that region are struggling, people may be losing jobs, and the overall economic outlook is negative.