Ben Bernanke’s money printing is a “fantastic job”

Robert Wolf, the CEO of UBS Americas, talking to CNBC said that the Federal Reserve President Ben Bernanke has “done a fantastic job,” and that quantitative easing [QE] may be good for the country after all.

“I was probably a little skeptical about QE2, when they announced it,” said Wolf, adding that he thought it was an “export initiative” to get the US dollar “low.”

“In the last few days, I’ve probably changed my mind. One is Bernanke’s testimony, his meeting with Republicans, where he talked about the Boston report [that the latest quantitative easing could lead to the addition of] 700,000 to a million jobs.”

“So if the Fed chair, who I think has done a fantastic job in the last few years, thinks it’s [quantitative easing is] going to add to job growth, help the housing market, and he’s not worried about inflation, it’s hard for me to say, ‘Well, wrong choice.’ ”