Former Federal Reserve Chairman Alan Greenspan said he doesn't think the Fed can unwind years of extraordinary stimulus without causing turmoil in financial markets.

"I don't think it's possible," Greenspan said during an event today at the Council on Foreign Relations in New York, responding to a question about the likely market impact of the Fed's exit.

The Federal Open Market Committee is poised to announce the end of bond purchases, finishing its third round of quantitative easing, when it releases its latest policy statement today at 2 p.m. in Washington.

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