That's what the man, Ben Bernanke, said today. By definition and by traditional understanding of the term inflation, it means "an increase in the money supply."
Now, who's been sending orders to the Treasury Department's printing presses to speed up? The Fed, of course. The Fed and Congress have been creating trillions of new fiat dollars and credits and spreading it just about everywhere. (Some to secret recipients here and abroad.)
Yes, we'll have inflation - we already have it - and it's multiplying. Next will come the price increases, as sure as night follows day. You can expect wages falling and prices rising in a new version of stagflation.
When will they ever learn?
It's all so simple.
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