The US Federal Reserve will hold off feeding the inflationary hawks at its monetary policy meeting this week, preferring to stick with its ‘wait and see’ mindset before acting in advance to ward off inflation.

An intriguing note from global investment management firm RockCreek, whose advisory board includes Alan Greenspan, reminded investors that there is a strong push for central bankers to get actual not forecast inflation, a similar stance taken by the Reserve Bank of Australia.