Philadelphia Federal Reserve President Charles Plosser said on Wednesday he expects to revise down his growth forecast for the end of the year but his outlook for 2011 and beyond is little changed.

"It's obviously probably somewhat lower than it was back in the spring, but not tremendously," he told reporters after a speech. "And I don't think my forecast for the out years, like 2011, 2012 ... those forecasts haven't changed appreciably."

If expectations for coming years are on track, it is unlikely monetary policy could lower the unemployment rate before the end of this year, he added.