WASHINGTON - John Stumpf offered his candid assessment Wednesday night on a range of contentious financial services topics, including monetary policy, the housing crisis, proposed capital rules and consumer protection.

Speaking during a panel discussion hosted by the Financial Services Roundtable, the Wells Fargo & Co. chief executive criticized the Federal Reserve Board's decision to launch a third round of quantitative easing. Rather than enticing borrowing with low rates, policymakers should be more worried about the negative impact such low rates are having on savers and people living on a fixed income.

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