Volcker unimpressed with Fed easing potential

And for good reason.

Many analysts expect the Fed to announce a $500 billion buying programme over about six months.

"I don't look for any overpowering results of this action," Volcker, currently chairman of the Obama administration's Economic Recovery Board, said in Singapore as part of a dialogue on financial reform.

He said a fresh injection of Fed cash into the economy could create a risk of inflation longer term, but "I don't think it's beyond the capacity of a central bank to deal with that problem...but they're going to have to deal with it."