Gold Trade Is Only Winner in Inflation Attack: William Pesek (On Resurgent Asian Inflation)

``Rather than yanking away the proverbial punchbowl, they are keeping the monetary taps open for too long and imperiling Asia's outlook. Asia needs less talking about these risks, and more doing... Part of the problem is that Asia has internalized the Federal Reserve's core inflation philosophy. From Hanoi to Beijing, policy makers have been reluctant to tighten credit on the assumption that inflation is being unduly driven by a short- term rise in food and energy costs, while other prices are stable... There are now indications that inflation isn't just being imported, but increasingly generated domestically. ''