Fed's Bullard says return to inflation target may take longer than thought

Big shot Bullard speaking in Memphis

• Drop in inflation expectations may be worrisome
• Low inflation expectations will make the return to Fed's goal tougher
• Expectation may be falling due to oil price drop
• Low oil prices are a net positive for US economy

Bully's views on inflation have been akin to a weather vane. The difference is that he's on the FOMC voting this year