Robert Kaplan, president of the Dallas Federal Reserve Bank, said the reduction in central bank asset purchases should be "gradual" and reiterated the view that it would be prudent to start the process sooner rather than later.
"if we take our feet off the throttle now, we will have more flexibility to avoid more sudden actions in the future," Kaplan said in an interview with television Michael McKee. "these asset purchases are very important and useful in 2020 and will help at the beginning of this year. Now we do not have a demand problem, we are more faced with a supply problem.
"We are seeing price pressures expanding and spreading to a wider range of areas," Kaplan said.
Kaplan has no policy voting rights in FOMC this year.