Economic Forecast: Focus for this week is on Fed Survey and Global Trade, Otherwise a Quiet Week Expected

After all the emotional unrest caused by last week's economic reports, the coming five days will be refreshingly quiet.

The Fed's Beige Book on Wednesday is a survey of the current economic and business situation in each of the Federal Reserve Districts around the country.

Coming out a couple of weeks before the next FOMC meeting, it can help us see where the Fed might be headed with its Funds Rate decision on June 22.

Weekly Initial Unemployment Claims are expected to remain above their disappointing 400,000 level. The Trade Balance should inch up slightly.

From my weekly enewsletter for real estate pros, INSIDE LENDING, for the week of June 6, 2011