Macro strategist Cameron Crise said that throughout the post-epidemic period, the Fed Beige Book has been pessimistic about economic growth, with the most optimistic assessment of the U.S. economic expansion being "moderate". While the latest Beige Book pointed to "modest" growth in three regions, and flat or even negative growth in nine other regions. This is slightly inferior to the previous report. In isolation, this sounds bad, and to be sure, the Fed can use this as an excuse to adjust interest rates this month, but it is not much different from most of the past few years. In any case, the market can easily use this as an excuse to pour more money into the bond market.