Fed ready for hard choices on inflation: Yellen

LA JOLLA, California (Reuters) - San Francisco Federal Reserve Bank President Janet Yellen on Monday said that the Fed cannot be just "hopeful" that inflation will come down, but must be prepared to make hard choices as needed.

The Fed is "in a bind" as it looks at rising inflation at a time of weak growth, Yellen said when answering questions after a speech at the University of California San Diego.

Still, memories of the 1970s inflation spiral are "very alive" at the Federal Open Market Committee, Yellen said.

(Reporting by Ros Krasny; Editing by Theodore d'Afflisio)