FED EXPECTED TO TAKE NO MONEY MARKET ACTION The Federal Reserve is expected to take no reserve-management action in the U.S. Government securities market during its usual intervention period, economists said. They said that, if the Fed does act, it will likely add temporary reserves indirectly by arranging one to 1.5 billion dlrs of customer repurchase agreements. Federal funds, which averaged 6.14 pct yesterday, opened at 5-15/16 pct and remained there in early trading. Analysts believe this probably is about where the Fed wants the funds rate to be.