Ron Paul Says He Doubts Bernanke Can Prevent Inflation Outbreak

Representative Ron Paul, a Texas Republican who next month will take control of the House subcommittee that oversees the Federal Reserve, said he’s concerned the central bank won’t be able to prevent an outbreak of inflation.

Fed Chairman Ben S. Bernanke said during an interview broadcast Dec. 5 on CBS Corp.’s “60 Minutes” he was “100 percent” confident the Fed could keep inflation below 2 percent and reverse its accommodative monetary policy when necessary. Policy makers “could raise interest rates in 15 minutes,” if needed, he said.