According to Golden Finance, former Federal Reserve Chairman Bernanke said that the world's recent acceleration of inflation may make it more difficult for central banks to control prices in the future. Bernanke hinted that central bank governors may be more wary of allowing prices to soar again. He cites research that Fed policymakers in the 1970s (a period when the economy was hit by oil prices) “are generally more hawkish than young people.” In his prepared speech, Bernanke said that the key lesson learned from the latest round of inflation is that central banks should pay more attention to the possibility that the outcome may differ greatly from the most likely forecast, and that if the reality is different from the forecast, monetary policy will respond appropriately. A better communication strategy might be the Fed's statement that its basic forecast envisages temporary inflation.