DAYTON, Ohio — Federal Reserve Bank of Kansas City president Esther George warned Thursday that current central-bank policy is risky and may be creating new financial bubbles that could eventually hurt economic growth and job gains.

“I support an accommodative stance of monetary policy while the economy recovers and unemployment remains high,” George said. “But I view the current policies as overly accommodative, causing distortions and posing risks to financial stability and long-term inflation expectations with the potential to compromise future growth,” the official warned in the text of a speech to be delivered in El Reno, Okla.

George is a voting member of the Federal Open Market Committee, which sets monetary policy, and she is the body’s highest-profile dissident. The FOMC has held two meetings this year, and in both George has dissented against the collective decisions of her fellow policymakers.

George has opposed the Fed pressing forward with its open-ended campaign of bond-buying because she fears that continued stimulus at this level risks the creation of new financial-market imbalances. She has also warned about the possibility of rising inflation expectations resulting from the Fed’s effort to speed growth.

While George has been the sole dissenting voice at FOMC meetings, she is not alone in her discomfort with the current state of Fed policy. Still, most Fed officials remain steadfast supporters of continued easing.