The dollar (Loser). More quantitative easing by the Federal Reserve means more dollars will be printed. The worry for many U.S. investors is the future of the greenback, as more dollars (actually, bank reserves) in circulation dilutes the currency's value. "The Fed has basically cut interest rates to zero and this is basically the last thing they can do," says Chuck Butler, president of EverBank World Markets, an investment firm that offers savings accounts with foreign currencies. "Any time a country goes and cuts rates, historically, currency people view that as a debasement of a currency."