Fed's Fisher sees 3 percent U.S. growth this year

SAN FRANCISCO Mon Feb 4, 2013 2:37pm EST

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SAN FRANCISCO Feb 4 (Reuters) - Dallas Federal Reserve Bank President Richard Fisher, a vocal critic of the central bank's policy of monetary easing, said Monday he expects the U.S. economy will grow about 3 percent this year.

In an interview with Bloomberg Radio, Fisher also said he does not believe that any of his colleagues are advocating for no limits to the Fed's bond-buying program.

"No one is arguing it, to my knowledge," even if inflation stays below the Fed's 2-percent inflation goal, he said. The bond purchases are building up a balance sheet that eventually will need to be trimmed, he warned.

The U.S. Federal Reserve last week left in place its monthly $85 billion bond-buying stimulus plan, saying economic growth had stalled but indicating the pullback was likely temporary.

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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