US growth is unlikely to recover to the levels seen pre-crisis, but that does not justify more monetary easing, Charles Plosser, the president of the Philadelphia Federal Reserve, on Thursday warned.

Signs that the US recovery is slowing, notably the release of poor jobs data last week, have sparked calls for a third round of asset purchases. However, in a speech delivered in London, Plosser said the US economy's performance of late was likely to prove a "temporary soft patch". The regional Fed