FED concerned about “breakout of inflation” and “deposits at risk”

Record of Meeting of the Federal Advisory Counciland the Board of Governors Friday, May 17, 2013

Page 15 of the FED protocol, released May 31st:
There is also concern about the possibility of a breakout of inflation, although current inflation risk is not considered unmanageable, and ofanunsustainable bubble in equity and fixed-income markets given current prices.

Finally,the regressive nature of the artificially compressed savings yields creates pent-up demand within bank deposit portfolios; these deposits may be at risk once yields begin to rise and competitive pressures increase.