FED EXPECTED TO SET CUSTOMER REPURCHASES
The Federal Reserve is expected to
intervene in the government securities market to add temporary
reserves indirectly via 1.5 to 2.5 billion dlrs of customer
repurchase agreements, economists said.
    They said that while the Fed has only a moderate add need
over the next few days, it will probably intervene in an
attempt to counteract an elevated federal funds rate.
    Fed funds, which averaged 6.09 pct on Friday, opened at
6-3/16 pct and remained at that level in early trading.
 Reuter
