Philadelphia Fed President Charles Plosser told CNBC on Friday that it's probably time to "gracefully exit" the central bank's quantitative easing bond purchases because the November jobs report was more evidence of a strengthening economy.
The report showed nonfarm payroll growth of 203,000 jobs and an unemployment rate that dropped to 7 percent. Plosser said in a "Squawk Box" interview that the numbers show a stable, positive trend of job growth.
"It's pretty positive clearly. We continue to make solid progress," he said, but warned that investors should not to make too much of one month's report.
Investors are wondering whether the jobs data will be a catalyst for the Federal Reserve to decide later this month to start scaling back its $85 billion monthly bond purchases.
(Read more: Jobs growth good enough to start taper—but not yet)
Acknowledging that he's no fan of the current QE buying, Plosser said "it would be wise if we began to get rid of this program." He continued, "I don't think it's doing very much good for us. It has a lot of unintended consequences and risk for the economy down the road."
As an alternate voting member on the Fed's policymaking committee this year, Plosser has been one of the central bank's most consistently hawkish voices on inflation and the negative long-term effects of easy monetary policy—exemplified by the ongoing QE program that's grown the Fed's balance sheet to nearly $4 trillion. He'll be a voting member next year.