CCTV Script 19/06/13

— This is the script of CNBC's news report for China's CCTV on June 19, Wednesday.

Welcome to the CNBC Business Daily.

All eyes on the Fed as it wraps up its two-day policy meeting. Investors are waiting on clues on when and how quickly the central bank could wrap up its QE program.

We asked the experts and here's what they had to say.

[Sound on tape by Stuart Oakley, Managing Director, Nomura: He's going try to dampen down volatility by you know by telling us everything, any decision that dependent all the boring stuff that we expect i think the market does expect him to be mildly dovish I would suggest that's priced in already.]

[Sound on tape by Robert Heller, Fmr Governor, U.S. Federal Reserve: We are building up enormous federal debts at the present time and the Federal Reserve is essentially buying up the entire federal deficit and it's being added to enormous debt load, that the country is under. $16 trillion at present time, you just cannot keep on piling more and more and at the same time build up all these future ammunition in form of excess reserves that the banking system holds at the present time, that is road to disaster in long run.]

[Sound on tape by William Poole, Senior Fellow, Cato Institute: Everybody knows, everybody, the Fed knows, the market knows, Anybody who knows anything about this subject that policy cannot continue forever, it just can't. So the question is how the Fed does get out from under what it has started and what is the most orderly way to do. Now if the Fed does this in a way that violates market expectations or confuses the market then that's not going to help matters at all.]

Meantime, US President Barack Obama has suggested in an interview that Ben Bernanke could leave at the end of his term in January next year.

Speaking to Charlie Rose, Obama said Bernanke had already stayed longer than he wanted to or was supposed to. So who is likely to be the next Fed Chief?

Well, there has been some speculation that Fed Vice-Chair Janet Yellen could take over the helm. We asked our panel of experts what they thought.

Have a listen.

[Sound on tape by Laurence Meyer, Fmr Governor, U.S. Federal Reserve: I do think that Janet Yellen is the most likely and I think that reflects two things in particular, one she has extraordinary credentials. she was a governor on the board, she was the chairman of council of economic advisors, she was the president of the San Francisco Fed, now she's vice chair.]

[Sound on tape by Robert Heller, Fmr Governor, U.S. Federal Reserve: Janet Yellen clearly has best resume for job, bar none. She has been a fed insider for a long time it's hers to lose, she has earned the job and she is well qualified and i think obama is also under pressure to nominate more women.]

[Sound on tape by William Poole, Senior Fellow, Cato Institute: Janet Yellen would have the most continuity, she knows all the staff , she's been there, she's part of the current policy. On the other hand, her disadvantage would be that if the Fed really needs to make a break from its current policy it would be more difficult for her to do so than for one of the other people coming in.]

Li Sixuan, from CNBC's Asia headquarters.