2% Price Inflation Means Stable Prices: Bernanke.

Gary North

Nov. 9, 2011

Here is what Bernanke said in 2010

The public's expectations for inflation also importantly influence inflation dynamics. Indicators of longer-term inflation expectations have generally been stable in the wake of the financial crisis. For example, in the Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters, the median projection for the annual average inflation rate for personal consumption expenditures over the next 10 years has remained close to 2 percent. Surveys of households likewise show that longer-term inflation expectations have been relatively stable.

http://www.federalreserve.gov/newsevents/speech/bernanke20101015a.htm