BlackRock's global bond chief, Rick Rieder, says the time has come for the Federal Reserve to step back from its easy policies and start talking about tapering its bond purchases.
The market has been waiting for the Fed to officially announce an end to the program. Once it does, it is expected to start trimming purchases slowly within several months.
Rieder expects the Fed this week to give the market an early warning that the taper talk is coming and then sometime later, perhaps late August, it will provide details of how and when it will end the program. He expects the Fed to start reducing its purchases by $20 billion a month after that.