Fed’s Kashkari aims for Beige Book that looks beyond business

FILE PHOTO: President of the Federal Reserve Bank on Minneapolis Neel Kashkari speaks during an interview in New York, U.S., March 29, 2019. REUTERS/Shannon Stapleton

(Reuters) – If Minneapolis Federal Reserve President Neel Kashkari gets his way, the U.S. central bank may soon be getting a more frequent earful from what he sees as an overlooked community: workers.

Kashkari on Wednesday said he is working with the staff of his bank to retool how they contribute to the Beige Book, the pulse-taking economic survey the 12 regional banks in the Federal Reserve system conduct ahead of the eight scheduled policy-setting meetings each year.

In Kashkari’s view, the voice of business is over-represented in Fed policy deliberations, he said during a virtual conference hosted by the Minneapolis Fed. One of the contributors to that is that the Beige Book features economic anecdotes collected almost exclusively from business contacts across each bank’s

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