While many are nervous the massively stimulative monetary policy engineered by the Fed will inevitably trigger inflation, those folks are waiting for Godot. Subtracting the current yield on a 10-year Treasury Inflation Protected Securities (TIPS) bond (-0.637%) from the current yield on a regular 10-year Treasury bond (1.52%) gets us 2.157%. This means headline inflation over the next decade in expected to average just over 2%. Worry about something else!