More monetary stimulus can not reduce unemployment and boost U. S. economic growth, Federal Reserve Bank of Richmond President Jeffrey Lacker said.

In an interview on the "Charlie Rose" show, Lacker said that he was a bit skeptic about more monetary stimulus will provide the U. S. economy with the much-needed growth at this time.

Speaking on the topic, he said, "My sense is that monetary policy isn't capable of having a material effect on growth, or employment, or unemployment at this point."

But most members of the Federal Open Market Committee (FOMC), the Fed panel that determines monetary policy, disagree with Lacker's views. He was the only member of the committee's July 31-August 1 meeting, who had voted against any further monetary stimulus to boost growth. Most members of the committee had voted in favor of additional monetary accommodation unless the economy enjoyed a substantial pick-up in growth.

Separately, FOMC Chairman Ben S. Bernanke hinted that the Fed could take additional steps to ease financial conditions and strengthen the recovery.

While Fed officials' central tendency estimate for full employment was 5.2-6 per cent in June, the unemployment rate has been higher than 8 per cent for more than three years. The figures show that the Fed has so far failed to meet its dual mandate to achieve full employment and stable prices.