The Beige Book is weird. It's an economic report released by the Federal Reserve every few months, but it doesn't have many numbers in it. Mostly, it's a bunch of stories gathered by talking to businesses around the country. A Fed economist once described it as the "Ask Your Uncle" approach to figuring out what's going on in the economy.
In an interview this week, Univision's Adriana Vargas asked President Obama if, in the event Congress failed to pass immigration legislation, he could simply use his presidential power to give amnesty to the estimated 11 million people currently in the U.S. illegally.
The president didn't exactly shut the door on that possibility, though he did strongly suggest it was a portal he'd rather not go through.
The mortgage giants Fannie Mae and Freddie Mac got hit so hard by the housing crisis that they required a massive federal rescue. Now lawmakers are looking to scale back the two entities' role — and the government's — in the mortgage market.
The Senate Banking Committee is expected to vote Thursday on President Obama's nominee to head the agency that oversees Fannie and Freddie.