WASHINGTON (MarketWatch) - The Fed is "very, very unlikely" to launch another round of asset purchases because of the potential negative political fallout, Michael Feroli, economist at JP Morgan Chase, said Tuesday. Many members of Congress were incensed over the Fed's second asset purchase program of $600 billion in Treasurys that ends on June 30, with many members concerned the central bank's innovative policy would only lead to inflation. "The potential political fallout is so great that the Fed would be extremely reluctant to purchase more assets," Feroli said in a note to clients. This leaves the Fed with little ammunition to support the economy if growth falters, he said. The Fed would likely try to jawbone the markets by announcing that it was putting off plans to shrink its balance sheet or promising to keep interest rates low for longer, Feroli said. But the impact of these steps would be "quite limited" because the market already thinks the Fed is on hold, he said.