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Important Notes:  Before reading the article below:

"In July 2000, the Federal Reserve announced that it was no longer setting target ranges for money supply growth.
M2 has been downgraded as a reliable indicator of financial conditions in the economy, and no single variable has yet been identified to take its place."

The information above comes directly from The Federal Reserve Bank of New York:   https://www.newyorkfed.org/aboutthefed/fedpoint/fed49.html

The Federal Reserve gets most of its economic indicator data from what is called the beige book.  This report is published eight times per year.  
Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch
directors and interviews with key business contacts, economists, market experts, and other sources.  The Beige Book summarizes this information
by District and sector.  An overall summary of the twelve district reports is prepared by a designated Federal Reserve Bank on a rotating
basis.