Inflation seems to be on the mind of all American citizens as the economy takes its first steps toward a recovery. With exchange traded funds (ETFs), there are a number of ways you can hedge the inflationary climate.

After enormous government spending and  constant money printing, most Americans fear that inflation is looming.

Wes Moss for Daily News has some ways to  help hedge it:

1. Oil and Commodities. As the dollar weakens, owning oil related stocks and ETFs/exchange traded notes (ETNs) will be one of the most direct ways to hedge against this. Also, if we do see inflation, chances are that we will be experiencing some economic growth here in the United States. United States Oil (USO), up 19.1% year-to-date.

2. Non-U.S. Currencies. If the U.S. dollar does lose value relative to other currencies, it will be beneficial to have a portion of your investments in those foreign currencies. This can be accomplished by owning the actual currency itself in a brokerage account, or investing in an ETF that tracks a foreign currency. There are an increasing number of these currencies available to investors, including CurrencyShares Euro Trust (FXE) and WisdomTree Dreyfus Chinese Yuan (CYB), up 0.4% and up 2.3% year-to-date, respectively.