Philadelphia Federal Reserve President Charles Plosser tells TheStreet's Joe Deaux that the central bank's asset purchases will end sometime later in the year, possibly by the September, October or December meeting. Discussing his forecast for a 3% federal funds rate by the end of 2015, the Fed president says he thinks it may be appropriate to keep inflation and the economy under control. Plosser also says the Fed had no choice but to change the language of the unemployment rate threshold.

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