You also have to understand that it is his job to defend the U.S. Dollar so we can give him a break on that.
About the thin air part i strongly disagree and he obviously knows how money works. But if your job is to substantially increase the value of the currency made in your developed country then you better be creative with the nice tricks you're going to use of course. Precisely what he is doing.
Some will argue that those are wrong decisions but i don't think they are. I agree partially with it but that is nice for us because of the advertising.