"Many people fear that high inflation is right around the corner. The evidence says they shouldn't.</br></br>Still, there are moves investors can take that will pay off even if inflation is low and provide ample benefit if inflation takes off.</br></br>For now, the market is sanguine -- though some high-profile individuals aren't. On Tuesday, the day after the U.S. Senate voted to confirm Janet Yellen as chairwoman of the Federal Reserve, Sen. Richard Shelby (R., Ala.), who voted against the nomination, explained his opposition to the Fed's easy-money policies.</br></br>Said Sen. Shelby: ""Should inflation expectations become unmoored, prices could increase uncontrollably.""</br></br>Others warning about the prospects of higher inflation include Federal Reserve Bank of Philadelphia President Charles Plosser."