FED EXPECTED TO TAKE NO MONEY MARKET ACTION

  The Federal Reserve is expected to take
  no reserve-management action in the U.S. Government securities
  market during its usual intervention period, economists said.
      They said that, if the Fed does act, it will likely add
  temporary reserves indirectly by arranging one to 1.5 billion
  dlrs of customer repurchase agreements.
      Federal funds, which averaged 6.14 pct yesterday, opened at
  5-15/16 pct and remained there in early trading. Analysts
  believe this probably is about where the Fed wants the funds
  rate to be.
  

