Aug 4 (Reuters) - Federal Reserve Bank of Philadelphia

President Anna Paulson said Tuesday it was right for the central

bank to look through the energy shock and not react by changing

monetary policy.

"I've definitely been in the of the view that you should

look through supply shocks," Paulson said in an interview on

CNBC that followed the release of a statement that said she was

keeping an open mind about the future of monetary policy.

Paulson said that if the Fed had responded to the recent

energy shock with rate policy, the response would likely have

been mistimed given shifts in market prices.