Here comes the Beige Book ...

The Federal Reserve will release its latest Beige Book, a compilation of anecdotes on the economies in the Fed's 12 districts, at 2 p.m. ET.

The previous edition, released on November 30, 2016, showed business conditions across much of the country softened ahead of the election amid uncertainty over who was going to emerge as the next President of the United States. Additionally, it was released before the Federal Reserve raised rates for just the second time since the financial crisis.

Wednesday's release will be the first to provide more consistent summaries and have a new design. For example, every district will include concise highlights in 50 words or less before diving into detailed anecdotes.