She's wrong to say weak dollar causing higher oil is inflationary. (She at least appears to understand that higher oil, and a higher CPI, are not necessarily caused by inflation. ) With a stable money supply, a weak dollar could be a short-term phenomena, but in the long-run the price of the dollar and oil would revert. People get hung up on thinking depreciated currency=inflation. It does in the long-run, but in the short-run psychology drives the market.