THE WEEK AHEAD: Greenspan to Report On Fed's Policy Plans
Federal Reserve Chairman Alan Greenspan will disclose the central bankÛªs monetary policy for the year in his semiannual report to Congress Tuesday before the House Banking Committee. HeÛªll make a similar appearance the next day before the Senate Banking Committee.</br></br>Investors in financial markets will be watching closely, although no major changes in policy are expected.</br></br>The Senate Banking Committee spent the weekend trying to work out a final version of a bill to repeal the 55-year-old law that separates securities activities from commercial banking. [Details on Page H8.]</br></br>Lawmakers last summer passed a law to temporarily prevent regulators from giving banks any new powers to sell securities. The freeze expires March 1. By then Congress was to have passed a permanent banking law defining how far commercial banking and securities underwriting could mingle.</br></br>The freeze is expected to expire uneventfully, with no major push by the securities industry to try to extend it But lobbyists and congressional aides were skeptical late last week that Congress will be able to pass a new banking bill any time soon.