I had this feeling and put it as my principle for this round after QE2 was announced.
If you try a scenario play, you will notice the difference:
1. If ecomnoy is weak - FED keeps QEx provide extra liquidity, inflation!
2. If economy is SO good - Demands push inflation! (less possibility yet). The inflation expectation will neturalized FED's withdraw of QE plan.
The only scenario when short can play out is the economy is bad enough and out of central banks normal control. Which is with least probability for 2011.