Pimco's Crescenzi Interview on Fed, Economic Policy

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Aug. 11 (Bloomberg) -- Anthony Crescenzi, a money manager at Pacific Investment Management Co., talks with Bloomberg's Susan Li about Federal Reserve monetary policy and its impact on the U.S. economy. The central bank will reinvest principal payments on mortgage assets it holds into long-term Treasuries after judging that "the pace of economic recovery is likely to be more modest in the near term than had been anticipated" the Federal Open Market Committee said in a statement after meeting yesterday in Washington. Crescenzi, speaking from Newport Beach, California, also discusses U.S. economic policy. (Source: Bloomberg)

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