A little doomsday feeling is weighing on the economy
December 4, 2025
AI Summary
5 min read🎙️ The Speakers & Context
- The Format: Host discussion between Robert Smith and Darian Woods (NPR’s The Indicator), interwoven with field reporting.
- The Key Players:
- Robert Smith & Darian Woods: Co-hosts who specialize in distilling complex economic data into relatable stories. Their unique angle is treating the Fed’s Beige Book as a cultural artifact, awarding “Beji Awards” for the best regional anecdotes.
- Tom Barkin: President of the Richmond Federal Reserve. Credible as a key monetary policymaker who prioritizes grassroots economic intelligence over raw data.
- The Vibe: Reflective, slightly playful, but analytically sharp. The hosts treat the Beige Book as a “qualitative” counterweight to hard data, with Barkin embodying the art of listening.
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What you'll learn
- 1 Hosts discuss the Beige Book, a favorite obscure government report.
- 2 Jay Powell mentions the Beige Book in a speech, validating its importance.
- 3 The Beji Awards are introduced as a recurring segment.
- 4 12 regional Fed banks each contribute a section to the Beige Book.
- 5 Awards are given for the best entries, focusing on local economic anecdotes.
- 6 The consumer economy is slowing, per recent reports.
- 7 Kansas City Fed notes it's the best time to get a tattoo (more open appointments).
+ Full timestamped outline available in the app
Show Notes
It is a special edition of the Beigies Awards where one regional Federal Reserve Bank will receive lifetime achievement recognition. Today on the show, we speak to its President about the value of economic anecdotes.
Related episodes:Â
What keeps a Fed president up at night
Using anecdotes to predict recessions
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