Pimco's Crescenzi Expects Fed to Start Open-Ended Easing With $500 Billion

The Federal Reserve will likely begin a program of bond buying with about $500 billion in purchases and leave it open-ended for “some chance of doing more,” according to Pacific Investment Management Co.’s Tony Crescenzi.

Asset prices have been bolstered by the expectation of so- called quantitative easing and also prospects for the Republican Party to gain control of the House of Representatives, he said in an interview with Bloomberg Television.

To contact the reporter on this story: Candice Zachariahs in Sydney at czachariahs2@bloomberg.net

To contact the editor responsible for this story: Garfield Reynolds at greynolds1@bloomberg.net

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