St. Louis Federal Reserve Bank President James Bullard said Friday he sees risks to further unconventional monetary easing by the U.S. central bank.

“There are risks to the balance sheet expansion policy, and you’ve got to balance those risks,” Bullard told CNBC.

Still, he said, the Fed’s decisions are heavily influenced by Chairman Ben Bernanke, adding that the central bank head is “right in the middle” on policy.

“There’s kind of one vote in the FOMC — it’s the chairman,” Bullard said, referring to the Fed’s policy-setting Federal Open Market Committee.

“If the chairman leans one way or the other, he’s got a lot of support, tremendous respect in the committee. And he tries to stay in the center and weigh all these things and come to a decision,” he told CNBC. “I think he’s right in the middle.”