IMF says Federal Reserve is 'appropriately' keeping close eye on data
WASHINGTON, Oct 29 (Reuters) - The US Federal Reserve is appropriately keeping a close watch on US economic data as it shapes its monetary policy, the International Monetary Fund said on Thursday, a day after the US central bank left its key interest rate unchanged. IMF spokesperson Julie Kozack told reporters at a regular briefing that the IMF fully supported comments from Fed Chair Kevin Warsh about the Fed's focus on price stability, noting that US headline inflation remained above the Fed's 2% target. She said the Fed and the European Central Bank, which both left interest rates unchanged at policy meetings this week, were operating in an environment of high uncertainty, and needed to look closely at economic data as they moved forward. ARGUMENTS FOR RATE RISE The US Commerce Department on Thursday reported that the US economy grew at its fastest pace in a year in the third…