PREVIEW / Some of the Business and economic Events Happening Today

* In closely watched testimony on Capitol Hill today, Federal Reserve Chairman Alan Greenspan is likely to be vague about the near-term direction of U.S. interest rates. But analysts said that in a subtle manner, he may raise the possibility of a Fed rate increase later this year if the economy starts to show signs of overheating.

* The Conference Board will report today on consumer confidence in February. From all indications, Americans have no hesitations about spending. The New York-based business research group’s index is expected to rise to 128.8 from 127.6 in January.

* Burbank-based entertainment giant Walt Disney Co. holds its annual meeting today in Seattle. On the agenda is a report on how much the company will be spending on the year 2000 computer problem.