Mitt Romney is calling for "something dramatic" to help the nation's economy.
But the Republican presidential contender says in an interview airing on CNN's "State of the Union" that dramatic action doesn't include another federal stimulus package.
Romney instead favors the creation of "incentives and opportunities" for businesses -- "big and small" -- to boost hiring.
He says he'll create 12 million jobs in his first term in the White House, as part of the "normal process" of economic recovery.
Romney has been slow to release specifics for his economic plans so far.
The Fed held off last week on taking further action to boost economic growth, but indicated those measures could be announced in the near future. The Fed also opted to keep interest rates near zero in an attempt to keep borrowing costs low.
A new campaign television ads is highlighting Romney's recent trip to Israel.
In the ad, Romney criticizes President Barack Obama for not visiting the Jewish state.