The Federal Reserve will probably start to scale back on its massive bond-buying program this week and will try to help ease the market impact of the taper, Pimco’s Mohamed El-Erian told CNBC on Monday.
The Fed’s long-awaited two-day September meeting begins Tuesday and it’s widely expected that central bank policymakers will announce that it is starting to reduce its $85-billion-a-month asset purchases.
At the conclusion of its meeting on Wednesday, the Fed will provide interest rate guidance and economic projections, and Fed Chairman Ben Bernanke will hold a news conference.
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