The Fed has noticed Taylor Swift's economic impact.
The Federal Reserve has taken notice of Taylor Swift's Eras Tour due to its observable economic impact, which spans 131 gigs spanning 17 states and 5 continents.
The concert tour, which brought hundreds of thousands of Taylor Swift fans to US cities, significantly increased hotel bookings in Philadelphia.
The Fed noted that May was the strongest month for hotel revenue in Philadelphia since the start.
Of the pandemic, in large part because of an influx of visitors for the Taylor Swift concerts in the city.
In its most recent Beige Book, "despite the slowing recovery in tourism in the region overall."
On May 12, 13, and 14, Swift gave three concerts at Lincoln Financial Field, then in the middle of June, she made a trip back to Pennsylvania to perform in Pittsburgh.
Data from Booking.com shows that in certain places, including Pittsburgh, Minneapolis, and Kansas City, Missouri, hotel rates more than tripled in advance of the tour.
During the Swift tour, the hotel occupancy rate in Allegheny County, Pennsylvania, which includes Pittsburgh, exceeded 100%, and hotel reservation websites crashed due to the spike
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