Just printing money doesn’t cause inflation…wait, what?

Fed Chairman Ben Bernanke was on 60 Minutes yesterday, and, as might be expected, gave a priceless interview.  The best part that I’ve found was this blatant contradiction [emphasis mine]:

Bernanke also pointed out the bailout aid doesn’t come directly from taxpayers and is “more akin to printing money than it is borrowing.” He said the Fed can adopt that approach because the economy is very weak and inflation is low.  Once the economy begins to recover, Bernanke said, the Fed will have to raise interest rates and reduce the supply of money to “make sure we have a recovery that does not involve inflation.”
Never mind that inflation is defined as an increase in the money supply, so just printing money is bound to cause inflation.  Read Ron Paul on that very subject here.
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