Crescenzi Says Fed Needs to `Watch and Wait'

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June 23 (Bloomberg) -- Tony Crescenzi, market strategist and portfolio manager at Pacific Investment Management Co., talks about the U.S. economy and Federal Reserve monetary policy. Fed officials decided keep the central bank’s balance sheet at a record to spur the slowing economy after completing $600 billion of bond purchase this month. Crescenzi speaks from Newport Beach, California, with Susan Li on Bloomberg Television's "First Up." (Excerpts. Source: Bloomberg)

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