That viewpoint was supported by comments in Boston from Vice Chairman Donald Kohn of the Fed.

FORBES: Magazine Article

Bernanke's lieutenant at the Fed, Donald Kohn seemed to channel his boss in a speech last week.

FORBES

In Boston, Vice Chairman Donald Kohn said energy prices have lead inflation expectations higher, hurting spending and incomes, according to TradeTheNews.com.

FORBES: Magazine Article

But Donald Kohn, vice-chairman of the Fed, recently predicted that both inflation and inflation expectations were more likely to drop than to rise.

ECONOMIST: America��s debt crisis will be chronic, not acute

Later in that session, Donald Kohn, former vice chairman of the Fed, acknowledged that the Fed had made mistakes and should exercise humility.

FORBES: End The Fed, Or Celebrate Its Existence? Reflections On Our Central Bank's 100th Anniversary

"Lingering credit constraints are a key reason why I expect the strengthening in economic activity to be gradual, " says Federal Reserve Vice Chairman Donald Kohn.

FORBES: Intelligent Investing Briefing Book