Fed's Plosser says would like to slow down bond buys

NEW YORK Thu May 9, 2013 8:06am EDT

NEW YORK May 9 (Reuters) - Philadelphia Federal Reserve Bank President Charles Plosser said on Thursday that he would like the Fed to slow its asset purchase program and smooth its way out of its easy monetary policy.

Speaking on Bloomberg television, Plosser, who has said he wants the Fed to hit the brakes before, also said that "of course" he worries about the U.S. central bank's credibility.

The U.S. Federal Reserve is buying $85 billion per month of Treasuries and mortgage-backed securities in a bid to boost the economy and ease unemployment.

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