Growth Prioritized over Inflation, A Global Trend?

Ben Bernanke said this morning that the Federal Reserve “will act in a timely manner as needed” to keep the economy growing, implying more interest rate cuts in March. In today's speech before the House Financial Services Committee, Bernanke said the threat of core inflation and overall inflation has risen, but that growth and stability are now the immediate priorities.

Snapshot asks, will the Federal Reserve make inflation an equal priority again? Is recent Fed policy emblematic of a global move away from inflation targeting?

Wall Street Journal – Bernanke Hints at More Rate Cuts
Ben Bernanke – Semiannual Monetary Policy Report to the Congress
EVRO Intelligence – Out of Control: Inflation
Princeton University – Does Inflation Targeting Matter? A Reassessment
Federal Reserve Bank of Philadelphia – A Review of Inflation Targeting in Developed Countries