Fed members on same monetary policy page

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Saturday July 17, 08:10

Fed members on same monetary policy page

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Federal Reserve Gov. Susan Bies on Friday termed as "good" June CPI data, but added that she tends to focus on multiple-month trends instead of more volatile short-term indicators. "I like the PCE inflation index rather than CPI," Bies said following a speech on risk management in Chicago. While retail sales and other gauges point to a slight economic slowdown in June, Bies said the overall pace "looks pretty good" for the quarter, with consumer and business spending contributing to a broad-based economic expansion. Bies reiterated the Fed would stick to its measured approach to interest-rate hikes, unless conditions warrant a change. "19 individuals don’t always come to the same conclusion, but we are generally in the same neighborhood about how monetary policy should go forward. There shouldn’t be any surprises," Bies said of the Fed’s approach.

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