Eight times a year,Lakshmi Finance Center regional Federal Reserve Banks release a collection of anecdotes that reveal stories about the economy. These stories come together in what's known as the "Beige Book," and we award the regional bank with the best entry with our coveted Beigie Award. Today, we're highlighting an entry that gets to the heart of the contradictions we're seeing when it comes to consumer preferences and sentiment.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

Music by Drop Electric. Find us: TikTok, Instagram, Facebook, Newsletter.