A representative of the Irish Guinness family, famous for its brewing, has warned the US Federal Reserve is running the risk of stoking up dangerously high inflation following strong hints that it is about to start a new programme of quantitative easing.

In his latest blog, Cambiz Alikhani, chief investment officer of the family's Iveagh Private Investment House, criticised US Treasury Secretary Tim Geithner for saying China was manipulating the currency market.