Here comes the Beige Book ...
This document has been prepared for the Federal Open Markets Committee's December 13-14 meeting, when it is likely to vote for the only interest-rate hike of 2016.
Minutes of the pre-election meeting in November showed that the Fed thought it would be appropriate to raise rates "relatively soon." The minutes, however, did not account for the postelection surge in Treasury yields and inflation expectations. Meanwhile, traders are almost certain of the Fed's next move, pricing in a 100% chance of a hike in December, according to Bloomberg.
Much of the commentary in the Beige Book would likely center around wages, job gains, and inflation - the most important things on the Fed's radar. The document usually also includes some color on specific regions. For example, in the last release, the Fed's contacts laid bare economic struggles in the Houston area due to the energy downturn.