The policies of global central banks received another bashing Thursday with a London-based investment strategist launching a stinging analysis of the U.S. Federal Reserve.

Minutes released late Wednesday from the Fed’s latest policy meeting showed some voting Federal Reserve policymakers expected a further U.S. interest rate increase will be required soon, although there was a general agreement that more data are needed.

Nonetheless, Marino Valensise, head of multi-asset and income at Baring Asset Management, called the minutes “extremely boring” and said investors learnt nothing.

“They (the Fed) know that monetary policy is not effective anymore, and this is a broader conversation,” he told CNBC Thursday.

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