Top headline right now on the WSJ home page:

BERNANKE WARNED in congressional testimony that recent improvement in underlying inflation may prove temporary, though he repeated the Fed's view that those pressures should moderate in coming months.

So…A momentary disinflationary trend may not last much longer, but a resumption of the upward trend should be less severe than it's been up until recently.

Do you sense an underlying panic at how the Fed expects to keep its foot on the gas pedal and the brake at the same time?

The Daily Reckoning