Fed's bond buying ineffective, no need to add to it -Fisher

NACOGDOCHES, Texas Wed May 22, 2013 2:51pm EDT

NACOGDOCHES, Texas May 22 (Reuters) - Dallas Fed President Richard Fisher on Wednesday reiterated his opposition to the U.S. central bank's bond-buying program, calling it ineffective.

"Why would you dial up if it's not having an effect?" Fisher said to reporters after a speech here.

Fisher also said he believes the economic momentum is moving in the "right direction," adding that he expects the U.S. economy will be growing at a pace of about 2.5 percent by the end of the year.