He is also bullish on gold, which could offset Jupiter's inflationary tendencies.

Issuance of large quantities of such bills had an inflationary tendency to devalue them relative to the pound sterling.

Criticism was also directed toward the international currency system which was blamed for inflationary tendencies as a result of the dominant position of the U.S. dollar.

"There is no assurance that the economy will slow down of its own accord and inflationary tendencies need to be closely watched," it added.

According to the Federal Reserve, this formula is a guide to identifying the nation's future inflationary tendencies.

Alternatively, a government might wish to cover all its expenditures, including capital formation, by taxation, to dampen the inflationary tendencies of the system.

The nine-tenths of 1 percent rise would normally have indicated a strong inflationary tendency, which would in turn have caused heavy selling of fixed-income securities.

But the worst effect of this Act was its inflationary tendency.

And his recommended checks on inflationary tendencies - increases in sales taxes and the introduction of value-added taxes - would reduce real purchasing power.

As the Federal Reserve struggles to contain inflationary tendencies in the economy, short-term interest rates may rise.