All in all, the indicators point to slower growth and the likelihood that the Federal Reserve will have to ease monetary conditions further - and cut the federal funds rate target again. Currently, the market consensus is not expecting a rate cut before the next FOMC meeting on March 20. But certainly, Fed watchers - and listeners - will closely follow every word and syllable uttered by Fed chairman Alan Greenspan next week (Tuesday, February 13) when he testifies before the Senate Banking Committee on monetary policy.