FED NOT EXPECTED TO TAKE MONEY MARKET ACTION

  The Federal Reserve is not expected to
  intervene in the U.S. government securities market to add or
  drain reserves, economists said.
      Most economists said they did not expect the Fed to add
  reserves with Federal funds trading below six pct.
      They said the funds rate's softer tone may indicate that
  the need to add reserves in the current bank reserve
  maintenance period is smaller than previously estimated.
      Fed funds opened at 5-15/16 pct and remained at that level.
  Yesterday funds averaged 6.01 pct.
  

