Bernanke Kills Inflation with 2% interest rates & I've got a bridge for sale
If any among you thinks that the inflation story is over then you'll have a rude awakening several years down the road. Inflation may go dormant for an extended period of time over the near term but at the end of the day the money supply will grow to ridiculous proportions once the credit crisis subsides.
The only reason inflation is winding down right now is that bubbles are bursting and a lot of money is going to money heaven. But when the crisis is gone you'll see banks that are over capitalized get busy loaning out money and you'll harken back to the days of $860 gold with great nastalgia.
Over the near term who knows where the dollar, oil, etc will go but over the mid-term brace yourself my friends.