Nouriel Roubini, the co-founder and chairman of New York-based Roubini Global Economics LLC, said a further round of quantitative easing in the U.S. can’t be ruled out if growth is weak and deflation risks return.

Monetary policy will remain easy although for the time being there won’t be a QE3, he said at a forum in Shanghai today.

The Federal Reserve won’t raise interest rates “soon” because growth is weak, consumers are deleveraging and inflation is low, he said.