Putin says Fed stimulus pullback expected, necessary

Fri Jun 21, 2013 8:35am EDT
 
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ST PETERSBURG, Russia, June 21 (Reuters) - Russian President Vladimir Putin said on Friday that the flagging of a withdrawal of U.S. monetary stimulus by Federal Reserve Chairman Ben Bernanke was an expected and necessary development.

"This statement was expected - a correction had to come sooner or later," Putin told investors at an economic forum in St Petersburg.

Putin, a long-time critic of Western policies of so-called quantitative easing, added that central banks couldn't keep pumping liquidity into their economies indefinitely, stressing the importance of tackling underlying problems.