By Evelina M. Tainer, Chief Economist, Econoday
6/22/01

Fed officials will meet next week to determine the course of monetary policy. Economic indicators reported this week showed that economic activity remained lackluster in the manufacturing sector but was holding steady in housing. Economists are generally predicting the Fed will reduce the federal funds rate target by 25 basis points, but the magnitude of the cut is in debate in the financial markets.