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Pimco’s Crescenzi Says Fed May Explain Low-Rate Pledge

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Aug. 24 (Bloomberg) -- U.S. Federal Reserve Chairman Ben S. Bernanke may explain the central bank’s low interest-rate pledge this week, Tony Crescenzi, executive vice president and strategist at Pacific Investment Management Co., said in a Bloomberg Television interview.

Bernanke is scheduled to speak at the Fed’s annual symposium in Jackson Hole, Wyoming on Aug. 26. The Fed doesn’t have much “ammunition” and markets are preparing for recession, Crescenzi said. Link to Company News:{21429Z US <Equity> CN <GO>} Link to Company News:{PTTRX US <Equity> CN <GO>}

To contact the reporter on this story: Wes Goodman in Singapore at wgoodman@bloomberg.net

To contact the editor responsible for this story: Jonathan Annells at jannells@bloomberg.net

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