U.S. Stocks Erase Gains as Plosser Says QE3 Won’t Boost Growth

U.S. Stocks Erase Gains as Plosser Says QE3 Won’t Boost Growth

Bradley C. Bower/Bloomberg

“We are unlikely to see much benefit to growth or to employment from further asset purchases,” Federal Reserve Bank of Philadelphia President Plosser said in the text of a speech prepared for delivery today at the reserve bank in Philadelphia.