He’s complaining Europe is NOT inflating the money supply, the way the United States is under Obama.
In a downturn, tight money is bad and will worsen the economic outlook. This happened during the 1930s. While the amount of money Bernanke is printing makes me nervous, it's not led to inflation... yet. This is because consumers have bumped the savings rate, banks are increasing cash reserves, and corporations in general are conserving cash. If all of this gets pumped back into the economy, look out. Bernanke is betting that he can ease back in time to prevent inflation. Bernanke is operating as Greenspan would.
If Summers is appointed to the Fed, inflation may become an unstated strategy for reducing government debt. That worries me.