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BILL GROSS on interest rates, recession and government intervention

Part 1, Dec 19: Bill Gross, founder and managing director of Pimco, one of the world's largest fixed-income managers, speaks to Chrystia Freeland, US managing editor, in his Newport Beach office. In section one of this two-part edited interview, Mr Gross discusses why the Federal Reserve Bank will have to lower interest rates and also analyses the performance of the dollar. He calls for more government intervention to resolve the credit crisis and asserts that the US economy fell into recession in December. In January, Mr Marron of Lightyear Capital. If you would like to suggest a question for Mr Marron, please send it to the address below.