Factbox: More easing? Fed officials in their own words

(Reuters) - The U.S. Federal Reserve surprised markets earlier this month when it decided to buy more longer-term Treasury securities to hold steady the amount of support it is extending to the economy.

The move, coupled with a deteriorating economic outlook in the world's biggest economy, has raised the prospect of the central bank doing even more to drive down already rock-bottom borrowing costs.

Below are recent comments from Fed policymakers on the prospects for further easing, the economic outlook and the potential for a double-dip recession.

(* denotes 2010 voting member of the Federal Open Market Committee, which sets U.S. monetary policy)

* FED CHAIRMAN BEN BERNANKE, August 27:

"The committee is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly ... At this juncture, the committee has not agreed on specific criteria or triggers for further action."

* KANSAS CITY FED PRESIDENT THOMAS HOENIG, August 13:

"I believe that zero rates during a period of modest growth are a dangerous gamble."

DALLAS FED PRESIDENT RICHARD FISHER, August 24:

"We didn't want to send a signal that we were tightening at a time when the data was actually getting a little bit weaker," Fisher said in an interview on the Fox Business television network.

CHICAGO FED PRESIDENT CHARLES EVANS, August 24:

"A double dip is not the most likely outcome, but I am concerned about how strong the recovery will be."

* ST. LOUIS FED PRESIDENT JAMES BULLARD, August 19:

"Should economic developments suggest increased disinflation risk, purchases of Treasury securities in excess of those required to keep the size of the balance sheet constant may be warranted."

PHILADELPHIA FED PRESIDENT CHARLES PLOSSER, July 26:

"I think as we go through, we'll see confidence return, and a little more assurance that we'll get through this and when that happens, the consumer will come back and businesses will begin investing again," he told Bloomberg television.

"Of course, things could change. The economy could take a much worse path than I think it is. But if it did, we have ammunition to act if we want to."

* NEW YORK FED PRESIDENT WILLIAM DUDLEY, July 22

"The road to recovery is turning out to be a bit bumpy as relatively weak consumer spending and the ongoing problems in financial markets are keeping growth far less robust than we would like."

"We think the risk of double dip is quite low. The reason for that is quite straightforward: policy is quite stimulative. It's set on a very aggressive easing setting."

* FED VICE-CHAIR NOMINEE AND SAN FRANCISCO FED PRESIDENT JANET YELLEN, July 15:

"With unemployment still painfully high, job creation must be a high priority of monetary policy. We must also avoid any threats to price stability. That means that when the appropriate time comes, we must withdraw the extraordinary monetary accommodation now in place in a careful and deliberate fashion."

RICHMOND FED PRESIDENT JEFFREY LACKER, July 15:

"Perhaps the risk of subpar growth has increased a notch in the last couple of weeks."

"It's quite unlikely we'll get a downturn any time soon."

* BOSTON FED PRESIDENT ERIC ROSENGREN, July 13:

"There are several policy options if we think the economy is weaker than we would like," he was quoted as saying in the Wall Street Journal.

* FED BOARD GOVERNOR KEVIN WARSH, June 28:

"Any judgment to expand the balance sheet further should be subject to strict scrutiny. I would want to be convinced that the incremental macroeconomic benefits outweighed any costs owing to erosion of market functioning, perceptions of monetizing indebtedness, crowding-out of private buyers, or loss of central bank credibility."