This is the same old rhetoric that we hear every time the Fed prints too much money. The loose monetary policies that have existed for some time have already laid the ground work for rampant price inflation. This has everything to do with a private bank given the authority to create money out of thin air. Doing so is the actual inflation. The price inflation of which they speak is simply the market response to dollars that have had their value reduced by the printing of more unbacked dollars.
Throw in the move on the global level to reject U.S. greenbacks as the standard reserve currency and you have the makings of a major monetary meltdown here in the United States.
This boom and bust cycle that is continually repeated is the very thing the Fed was supposedly set up to prevent. As we all know, the creation of the Fed had nothing to do with stabilizing the economy and every to do with power and control by the international banking elite. G. Edward Griffin’s book The Creature From Jykell Island is an excellent and well researched historical recount of the establishment of the Fed and the true purposes.