Buffett: Fed "Igniting Inflation In a Serious Way"

In a lengthy and informative marathon session on CNBC this morning, Warrent Buffett, the most famous and successful investor of that past 50 years, has stated that the Bernanke Fed policies have a very high probability of "igniting inflation in a serious way". This is an interesting comment because it assumes that inflation is still somewhat contained now. More importantly, however, is the implication that inflation is very likely to move much higher still!