GOP presidential candidate Mitt Romney said he would not back efforts by the Federal Reserve to enact new economic stimulus measures, calling past moves ineffective.

“I am sure the Fed is watching and will try to encourage the economy. But I don’t think a massive new QE3 will help the economy,” said Romney in an interview with CNN aired late Saturday.

Romney said instead that Washington should focus less on boosting the public sector and instead encourage small business and entrepreneurs to aid job creation.

“I can absolutely make the case that now is the time for something dramatic and it is not to grow government,” said Romney. “It is the time to create the incentives and the opportunities for entrepreneurs – businesses big and small – to hire more people and that is going to happen.”

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