June 30 (Reuters) - Federal Reserve Bank of Dallas President Robert Kaplan said Wednesday he would like the Fed to start reducing its support for the economy before the end of the year, in part to make an abrupt policy tightening less likely later on. “I would prefer sooner” than the end of the year for reducing the Fed’s pace of asset purchases, Kaplan said on Bloomberg TV, adding that the taper should be gradual. Supply and demand balances in the labor market will likely persist, making “explosive” growth in jobs unlikely, he said; and while inflation will step down to 2.4% next year from 3.5% this year, he said, (Reporting by Ann Saphir) Our Standards: The Thomson Reuters Trust Principles.