NEW YORK (CNN/Money) - Today we get a peek in to the Federal Reserve's collective thinking as it releases its Beige Book assessment of the economy over the past six weeks or so.

This is the anecdotal survey conducted by each of the Fed's 12 regional banks across the country where they talk to business people, academics, local government officials (wives? neighbors? ex-cons?) to get on-the-ground view of the economy.

What can we expect?

Most likely more of the same smiley-face view of the world that we have heard from Fed officials publicly: the economy is growing with manufacturing doing reasonably well in many areas, consumers spending modestly as they are crimped a bit by rising oil prices, inflation reasonably well contained, etc.

And if that's the case it will reinforce the view of those who expect the Fed to hike rates again on November 10, because this Beige Book survey is part of the preparation for that meeting. So the only big surprise will be if the Fed suggests there's more weakness brewing than the bullish camp on Wall Street is expecting.

But one week before a tightly-contested election it's unlikely the Fed will do anything to rock the incumbent's vote for fear of being blamed if he were to falter.  

Kathleen Hays anchors CNN Money Morning and The FlipSide, airing Monday to Friday on CNNfn. As part of CNN's Business News team, she also contributes to Lou Dobbs Tonight.