Federal Reserve Board Chairman Alan Greenspan is scheduled to deliver the Fed's semiannual report to Congress on monetary policy and the economy on July 20 before the Senate Banking Committee.

The so-called Humphrey-Hawkins report will contain the Fed's tentative forecasts for economic growth and inflation in 1995, along with targets for money supply and credit growth. Greenspan's testimony will be watched closely for signs of what path the central bank may take on interest rates.

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