Below is a graph of 10-year US treasury fixed coupon bond yields (red), inflation-indexed bond yields (green) and the 'breakeven' inflation rate (blue). Note that inflation-indexed bonds are also called treasury inflation protected securities (TIPS) in the US. In other countries they're called inflation-linked bonds (ILB's). For more information, see PIMCO's great article about inflation linked bonds here.
The 10 year breakeven inflation rate (blue) equals the:
If the breakeven inflation rate was far above the US Fed's long term 2% average inflation target, the Fed would be expected to: