WASHINGTON (MarketWatch) -- Philadelphia Fed President Charles Plosser warned Friday that the central bank may have to be "aggressive" in lifting interest rates and may have to chase market rates higher, if banks were to quickly release reserves. He also suggested the expectations of his colleagues by the end of 2016 that calls for Fed funds rates to be below 2% even when the job market is back to normal may be too low. Plosser also said the central bank could face political pressure not to lift rates. "Technically we can certainly do that, but it will be a question of will," he said. He also said the Fed is monitoring asset prices and leverage to avoid "frothiness" in markets. Plosser is known for his hawkish views and becomes a voting Federal Open Market Committee member this year. The Fed last month started tapering their bond-purchase program, reducing monthly purchases to $75 billion.