Moar 'm' words from the modest boring of backward-looking release - The Beige Book. Unable to say the word slow, it seems 'modest', 'mild', and 'moderate' are the adjective of choice. But there is a bright spot...
- *FED: BEIGE BOOK BASED ON INFORMATION GOTTEN ON OR BEFORE MAY 24
- *FED SAYS GROWTH WAS `MODEST TO MODERATE' ACROSS MOST OF U.S.
- *FED: HOUSING INCREASED AT `MODERATE TO STRONG PACE' ACROSS U.S.
and we know what is happening there now [3]. So we assume this is the 'growth' that brings 'teper' chatter - hhmm.
The beige cloud:
And the entire book in all its boring glory:

