The latest edition of the Federal Reserve’s (Fed) Beige Book, released Wednesday, September 6, 2017, continued to deliver a positive view of the U.S. economy. The Beige Book is a qualitative assessment of the domestic economy and each of the 12 Fed districts individually. The report is prepared eight times per year, ahead of each Federal Open Market Committee (FOMC) meeting. We believe the Beige Book is best interpreted by measuring how key words change over time. The qualitative inputs for the September 2017 Beige Book were collected in the weeks prior to August 28, 2017.