WASHINGTON (Reuters) - St. Louis Federal Reserve Bank President James Bullard is worried that the Fed's decision on Wednesday to announce a plan to reduce bond buying was poorly timed, the regional Fed bank said in a statement on Friday explaining his dissent.

"President Bullard ... felt that the committee's decision to authorize the chairman to lay out a more elaborate plan for reducing the pace of asset purchases was inappropriately timed," the St. Louis Fed's statement said.

It also repeated that Bullard thought the central bank should have more strongly signaled a willingness to defend its 2 percent inflation target in light of recent low inflation readings.

(Reporting by Alister Bull; Editing by Lisa Von Ahn)