There is concern about inflation from the level of Fed lending & rate of M1 creation. However the bigger inflationary threat is when banks start lending again and this huge amount of money starts moving. There is also a threat of deflation though, offsetting this inflationary pressure, at least to some degree. For example, falling house & stock prices do wipe out a lot of wealth (real or otherwise, and perhaps good or bad) - which adds deflationary pressure.
So it is a balance between inflation & deflation. Clearly the fed sees deflation as a bigger issue right now - the fed can fight inflation, negative interest rates that plagued japan for a decade are much harder for a central bank to fix. They've cut short term lending rates as much as they can, effectively wiping out interest rates. Personally, I don't know if they're lending too much or too little, and I'm sure Congress doesn't either, so I'm not convinced regulation (and the attendant political pressure) would be a net gain.
I would say transparency is very important, for the government as well as Federal Reserve. Fed is responsible for the nations money supply, they are responsible for printing currency as well as deciding at what rates it should be lent(even to US Government). To me these are the powers with which you can control the whole country and its people.
Print more currency, make it easy to borrow which results in people borrowing to buy overpriced things(due to inflation as money supply increases) which sooner or later results in Bubble. When the bubble bursts, people lose their jobs and the value of overpriced things comes back to normal and people end up with Debts. We are in the phase where people are in debt and are losing jobs every quarter, by giving them more money or to the corporations which fired them, it does not make sense at all. In Simple words, It was a Bubble, it Burst. It really does not make sense when someone is infusing more money in the markets assuming prices of houses will go back like they were during Bubble or corporations will hire people assuming 40 or 50% growth every quarter, It's time to wake up now and think rationally. If growth is not organic, its not growth at all, It's Bubble.
why the "concern" about inflation? this is a "gimme" get-rich scheme for anyone who understands how inflation works. gold at 4000, oil at 500...it will be a triviality to make money as hyperinflation works through the system
So it is a balance between inflation & deflation. Clearly the fed sees deflation as a bigger issue right now - the fed can fight inflation, negative interest rates that plagued japan for a decade are much harder for a central bank to fix. They've cut short term lending rates as much as they can, effectively wiping out interest rates. Personally, I don't know if they're lending too much or too little, and I'm sure Congress doesn't either, so I'm not convinced regulation (and the attendant political pressure) would be a net gain.