Esther George, the President of Kansas City Federal Reserve Bank has urged the central bank to consider starting rollback of its fiscal stimulus package to normalise the monetary policy in the US.

George asked for lowing the $85 billion in monthly bond buying at its 17 to 18, September 2013 meeting but pointed out that the rollback could result in market volatility in the country. He said that cutting back on the stimulus package would be appropriate during the next meeting and also said that the bonds buying should be divided between Treasuries and mortgage-backed securities.

"An appropriate next step toward normalizing monetary policy could be to reduce the pace of purchases from $85 billion to something around $70 billion per month," George said today in a speech.

George has been consistently voting against the proposals to continue with the bonds buying programme indicating that it would create imbalances in the economy and financial markets and also result in long-term inflation expectations. The Federal Reserve officials are expected to meet on 17 and 18 September to discuss when to start rolling back its bonds buying programme.