With its moves to end the fiscal crisis, the Federal Reserve "embarked on a path that has blurred the distinction between monetary policy and fiscal policy," Charles Plosser, president and chief executive officer of the Federal Reserve Bank of Philadelphia, said Friday.

"Unfortunately, from my perspective, the Fed and other central banks have already" gone down that road, Plosser told the Philadelphia Fed Policy Forum, according to prepared text of his remarks released by the Fed.

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