That's a risk, but it would be a mistake by the central banks. Everyone talks about the basic expansion of money in the United States. They can control that in a few months, if they want. The risk is keeping interest rates too low for too long, as Alan Greenspan did. That was a serious mistake on his part. Personally, I think that it will make the same mistake. I firmly believe that the inflation rate will still be 2% in two or three years. The problem is more fiscal than monetary.
On March 26th, 2009. See this statement in context.