New, precision measurements of the Cosmic Microwave Background are for the first time making it possible to observationally constrain parameters relevant for models of inflationary cosmology. The existing data is already capable of ruling out some models of inflation. Future observations such as the MAP and Planck satellite missions, will make possible much tighter constraints. I will discuss a new stochastic method of "inverting" observational data to directly constrain the inflationary potential. This method, "Monte Carlo reconstruction", is easy to apply to virtually any data set and depends only weakly on the assumption of slow roll, two important advantages over parametric methods of reconstruction.