Several Federal Reserve officials said Friday the time is likely to arrive soon when the U.S. central bank will be able to pare its $120 billion a month bond-buying stimulus campaign.

Citing the recent pace of job creation, Fed vice chairman Richard Clarida said in a CNBC interview that “we’ve had 800,000 jobs per month for the last three months, and so I expect that those gains will continue in the fall and if that happens, I would also support commencing reduction in the pace of our purchases later this year.”

Mr….