Here Comes The Beige Book...

The Fed's Beige Book is an anecdotal report of economic conditions in each of the Fed's twelve districts.

The report is gathered from Federal Reserve staff meetings with local directors and interviews with key business contacts, economists, market experts, and other sources.

The Fed's most recent Beige Book was released in October and showed that economic activity was expanding in each of the Fed's 12 districts.

Wednesday's Beige Book report comes exactly two weeks before the Fed's last monetary policy announcement of the year, with that announcement also expected to be accompanied by a press conference with Fed Chair Janet Yellen and a release of an updated version of the Fed's Summary of Economic Projections.

Ahead of Friday's jobs report, the Beige Book will also be parsed for any clues not only on the US economy but specifically the condition of the labor market.

We'll be back with the full statement when it goes live.