The U.S. economy has moved away from recession but further policy easing could be required if that were to reverse or in the event of a shock to the financial system, said President of the Philadelphia Federal Reserve Charles Plosser in an interview on CNBC on Friday.

There is still a very weak employment picture, however there have been some positive signs over the course of the fall, said Plosser. There are some positive indicators that the (jobs) market is certainly not falling off a cliff.