Here comes the Beige Book ...

The Federal Reserve will publish the Beige Book prepared for its June 14-15 meeting at 2 p.m. ET.

Market expectations are mounting that at that meeting, the Fed could raise its benchmark interest rate for the first time this year.

The Beige Book contains anecdotes from the Fed's 12 districts on how their regional economies are doing.

It's not a hard data release, but will give us a sense of what is informing the Fed's outlook on consumer spending, the housing market, manufacturing and other key areas.

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