'No urgency' to lift rates says Fed's Bies

Federal Reserve Governor Susan Bies said the central bank faces ``no urgency'' to lift the benchmark U.S. interest rate while awaiting more evidence that economic expansion is steady.

``Our main direction is clearly up, but there's no urgency,'' Bies said in response to a question after a speech to the National Association of State Credit Union Supervisors in Albuquerque, New Mexico. ``We're not hitting all cylinders yet, and that gives us a little bit of time.''

The FOMC raised the fed funds