Independent auditors' consent
------------------------------------------------------------------

The board and shareholders
AXP Fixed Income Series, Inc:
     AXP Diversified Bond Fund



We consent to the use of our report incorporated herein by reference and to the
references to our Firm under the headings "Financial Highlights" in Part A and
"Independent Auditors" in Part B of the Registration Statement.

/s/ KPMG LLP
--------------
    KPMG LLP
    Minneapolis, Minnesota
    October 23, 2003