Bernanke’s QE2 ineffective

Global investors doubt the Federal Reserve’s plan to buy more Treasury securities will boost the U.S. economy or bring down unemployment and say they believe the government is pursuing a weak-dollar policy, a poll shows.

Three-quarters of those surveyed say the central bank’s securities purchases — or quantitative easing — will have little or no effect on joblessness, according to the latest quarterly Bloomberg Global Poll of 1,030 investors, analysts and traders who are Bloomberg subscribers. More than half say the Fed’s action won’t increase U.S. growth over the next year.

Lower unemployment “is a long way off,” Jonathan Mackay, a poll participant and senior fixed-income strategist for Morgan Stanley Smith Barney LLC in New York, said in an e-mail.

Bloomberg

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