FACTBOX: Fed policymakers' recent comments

CHICAGO (Reuters) - The following is a summary of recent comments by Fed policy-makers:

* Denotes 2007 voting member of the Federal Open Market Committee, which sets U.S. monetary policy

* FED BOARD GOVERNOR RANDALL KROSZNER, NOV 5:

"Conditions for subprime borrowers have the potential to get worse before they get better ... House prices are likely to remain sluggish for some time."

* FED BOARD GOVERNOR FREDERIC MISHKIN, NOV 5:

"If, in their quest to reduce macroeconomic risk, policy-makers overshoot and ease policy too much, they need to be willing to expeditiously remove at least part of that ease before inflationary pressures become a threat.

"Even if readings on core inflation have improved modestly this year, recent increases in energy and commodity prices, among other factors, may put renewed upward pressure on inflation."

FOMC STATEMENT, OCT 31:

"Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance. However, the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction. Today's action, combined with the policy action taken in September, should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time.

"Readings on core inflation have improved modestly this year, but recent increases in energy and commodity prices, among other factors, may put renewed upward pressure on inflation. In this context, the Committee judges that some inflation risks remain, and will continue to monitor inflation developments carefully.

"The Committee judges that, after this action, the upside risks to inflation roughly balance the downside risks to growth. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth."

*FED BOARD GOVERNOR FREDERIC MISHKIN, OCT 26

"Although market functioning has certainly not yet returned to normal, and while it is still too early to judge their ultimate success, these actions, along with the policy easing decided at the September meeting, have helped improve conditions in several short-term funding markets."

*CHICAGO FED PRESIDENT CHARLES EVANS, OCT 22

"We cannot afford to be lax on the inflation front."

Still, risks remain that housing demand and prices "could weaken a good deal more than we expect," pulling consumer spending down as well, he said.

"If in fact the more likely scenario unfolds, in which conditions improve and risks recede, then policy should be prepared to respond to any developments that threaten the inflation outlook."

*FED BOARD GOVERNOR RANDALL KROSZNER, OCT 22

"In the months ahead, the Federal Reserve will continue to monitor developments in the financial markets and act as needed to support the effective functioning of these markets and to foster sustainable economic growth and price stability," Kroszner told the Institute of International Bankers.

*FED CHAIRMAN BEN BERNANKE, OCT 19

"Predictability is critical in building credibility. It is critical in reducing uncertainty, in making long-term interest rates respond in appropriate directions to Fed actions," he told a conference in St. Louis by satellite link during a panel discussion on making monetary policy under uncertainty.

"My idea of being predictable is on the one hand to use benchmarks ... but also to provide information to the public what our outlook is, what our forecast is, how we see the risks and how we plan to respond.

"That communication, and providing adequate information, is really the only way to be adequately predictable in a world of uncertainty," Bernanke said.

"Intuition suggests that stronger action by the central bank may be warranted to prevent particularly costly outcomes."

*ST LOUIS FED PRESIDENT WILLIAM POOLE, OCT 19

"I think that, given the information set that we have, we are approximately in the right place," Poole told Reuters in an interview.

"If I thought that we were way off the right place, what evidence would I offer? Well, I think the market would be looking at the same thing that I'm looking at, and then we wouldn't be there, we'd be in a different place," he said.

"If you are going to favor a cut, you are going to say, not only do I think a cut is appropriate now, but with high probability I'm not going to regret that decision," he said.

"I want to be sure that if I turn out to favor lower rates, which I might, I don't know where I stand on this ... this is part of a regularity of policy behavior," he said.

"We are in a situation of unusual uncertainty because we have this market upset and we don't know how far along the healing process is. ... It is not exactly business as usual."

PHILADELPHIA FED PRESIDENT CHARLES PLOSSER, OCT 18

"Simple rules may be useful, and could be useful in communication, in communicating key aspects about policy."

"Behavior governed by simple rules is easier to monitor, it is easier to communicate and I think this contributes to an open and transparent way of conducting monetary policy."

CLEVELAND FED PRESIDENT SANDRA PIANALTO, OCT 18

"The uncertainty around the outlook today is very high."

"It's not clear how the financial market disruptions that we've seen are going to affect economic growth ... so ... we are waiting and learning."