Philadelphia Federal Reserve Bank President Charles Plosser said on Thursday he was "dubious" that the Fed's massive quantitative easing program was boosting the beleaguered labor market.
Speaking on Bloomberg television, Plosser, a longtime skeptic of the Fed's extraordinary policies, also said that there was little history for the U.S. Federal Reserve to look to in unwinding its easing program, in which it is buying $85 billion per month of Treasuries and mortgage-backed securities.
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