Federal Reserve Chairman Ben S. Bernanke is betting that the central bank's ongoing interest-rate cuts won't raise inflation, Robert J. Samuelson writes in a Newsweek commentary. Inflation, however, is rising. Bernanke is "betting that a sluggish economy in the first half of 2008 will spontaneously dampen price pressures while also justifying the Fed's focus on the financial system and economic growth," Samuelson said.

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