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The Indicator from Planet Money

How are moving companies faring with high mortgage rates?

The Indicator from Planet Money

NPR

Business

4.79.5K Ratings

🗓️ 14 March 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

HOOAH! It's our first Beigie Award for 2024! The Beigie Award is back to recognize the regional Federal Reserve Bank with the best Beige Book entry. This edition's winner took us to the City of Brotherly Love, detailing how high home interest rates and low existing home sales in the area are financially affecting our buff brethren in arms: movers.

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Transcript

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0:00.0

NPR.

0:03.0

So Robert,

0:05.0

So Robert, I was...

0:10.0

So Robert, I was watching the Oscars this week and I was thinking that maybe we need a little bit more

0:19.0

glitz and glamour in our award show.

0:22.0

I know right? Like our awards show is for the best writing in an obscure government

0:26.7

document called the beige book and the word beige just doesn't have the

0:30.8

pizzazz of that golden Academy Award.

0:35.0

But you know, Whelan, the Baysh book was, once upon a time, a little more sexy.

0:41.0

Ooh, are you talking about a scandalous past?

0:44.4

I am.

0:45.4

In the 1970s, the Beige book was a secret document published inside the Federal Reserve

0:51.1

for Fed Eyes only. And get this, the cover of it was red. They called it the red book.

0:59.1

Whoo, sounds too hot to handle. Too hot it turns out for everyone because when they decided to release this

1:05.1

document to the public they didn't want that bright flashy red cover to give

1:09.2

everyone the wrong idea so they slapped on a tan cover, which now that I think about it, even that sounds

1:15.4

too risque, tan.

1:17.4

So it is now...

1:18.4

Well, you didn't say flesh-colored.

1:20.3

Oh, that's good.

1:21.3

Nude colored.

1:29.0

No, no, no, no, it shall now and forever be known as the beige book. Okay, that's nice and anodyne, but is it still filled with red-hot economic anecdotes inside?

...

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