A senior Federal Reserve official Thursday said he wants the central bank to begin tapering its open-ended bond-buying program by about mid-June.

"As a practical matter, I would like to see us slow down purchases and would like to see it starting as soon as the next meeting, if the data support it," Philadelphia Federal Reserve Bank President Charles Plosser said, referring to the June 18-19 gathering of the Fed's policy-setting Open Market Committee.

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