Puzzling U.S. inflation could complicate things for Fed: Bullard

The Federal Reserve will have to ask some tough policy questions if U.S. inflation remains below target farther into 2014, James Bullard, president of the St. Louis Fed, said on Wednesday.

U.S. inflation is running at just 1.1 percent, well shy of the Fed's 2 percent target.

Bullard, speaking on a panel at the New York Stock Exchange, said the persistent weakness remains a "wild card" and a "puzzle" for the U.S. central bank, adding that he is also somewhat worried that inflation has drifted lower in developed economies globally.

(Reporting by Jonathan Spicer; Editing by James Dalgleish)