Doll clashes with Gross on QE3 outlook

BlackRock's Bob Doll has shot down the prospect of a further round of stimulus in the US, challenging expectations from leading bond investor Bill Gross at PIMCO.

Doll, the chief equity strategist at BlackRock, says QE3 will only be seen if the US economy "flags", with the Federal Reserve holding back on a third round of debt purchases if the economy continues to grow. His view is in direct contrast to Gross - running the $244bn PIMCO Total Return fund - who said last week a third, fourth and fifth round of easing "lies ahead". Doll told Bloomberg: "Ben Bernanke will use it if we have a rainy day and only then. "As long as the US economy is growing 2.5/3% and unemployment in the US is falling, that is not an emergency. QE is saved for emerge...