Federal Reserve Bank of Dallas President Richard Fisher on Monday said any tapering in the U.S. central bank's bond-buying stimulus program will depend on the strength of economic data.

Speaking at a conference of business economists in Sydney, Fisher also said U.S. corporate balance sheets are stronger than ever.

Fisher has long been concerned by the Fed's "hyper-accommodative" monetary policy, in part due to the danger of market disruptions when it comes time to slim down its massive balance sheet.

Fisher is not a voting member this year, but will be in 2014.