Bernanke changes tack, cautions on inflation

Ben Bernanke, the chairman of the Federal Reserve, has said that the inflation picture in the US has worsened since the Federal Open Market Committee (FOMC) last met.

Bernanke told US lawmakers on Wednesday 27 February: "The further increases in the prices of energy and other commodities in recent weeks, together with the latest data on consumer prices, suggest slightly greater upside risks to the projections of both overall and core inflation than we saw last month."

"Should high rates of ove