Another round of bond-buying program from the U.S. Federal Reserve will offer very limited help to bolster the U.S. economic recovery, Robert Rubin, former U.S. Treasury Secretary, said on Wednesday.

QE3 will probably accomplish little or nothing to shore up the U.S. economic growth, Rubin said at a high-ranking economic conference organized by the Atlantic magazine.

The U.S. central bank has rolled out two rounds of bond-buying programs, known as quantitative easing (QE), to lower long-term interest rates and boost consumption, which have attracted criticism at home and abroad. Investors worry that a third round of quantitative easing (QE3) would push up inflationary pressure in the future, but would fail to stimulate the economy as the interest rates were already at historical low levels.

More rounds of bond-buying programs might cause market jitters as investors would lose confidence in U.S. central bank's effort to tame inflationary pressure and U.S. government's commitment to put its fiscal house in order, noted Rubin.

However, he praised that U.S. Fed Chairman Ben Bernanke has done a good job in dealing with the worst financial crisis in decades.