U.S. Markets close in 1 min

Fed's Fisher urged trimming $10 billion in Treasuries buying

Federal Reserve Bank of Dallas President Richard Fisher speaks about the concept of breaking up 'too big to fail' banks to a breakout group at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 16, 2013. REUTERS/Jonathan Ernst

SAN ANTONIO, Texas (Reuters) - Dallas Federal Reserve President Richard Fisher said on Monday he had urged his colleagues to support a $10 billion reduction in the Fed's bond-buying program at the U.S. central bank's policy meeting last week.

The Fed's Treasuries purchases have not helped boost hiring, he said, adding that he preferred that the Fed keep buying mortgage-backed securities because he sees some 'tenderness' in the housing market recovery.

(Reporting by Ann Saphir; Editing by James Dalgleish)