FACTBOX-U.S. Fed policy-makers' recent comments

WASHINGTON, Sept 2 (Reuters) - The following is a summary
of recent comments by Federal Reserve policy-makers:

* Denotes 2008 voting member of the Federal Open Market
Committee, which sets U.S. monetary policy.

KANSAS CITY FED PRESIDENT TOM HOENIG, SEPT 1:

"The current stance of policy, while understandably
calibrated for responding to the immediate financial crisis,
will make it difficult to achieve our mandate for price
stability over the longer term," he told a Central Bank of
Argentina banking conference in Buenos Aires.

"For a market economy to work best, it must to the maximum
extent possible find a balance between financial stability and
a stable price environment," Hoenig said, "and in doing so must
be able to allow individual institutions to fail."

* FED BOARD GOVERNOR RANDALL KROSZNER, SEPT 1:

"Throughout the world, the challenges posed by weakening
economic activity were further complicated by mounting
inflationary pressures as food and energy prices soared,"
Kroszner said at a banking conference in Argentina.

"It has become clear that the initial assessment that the
United States had decoupled from the rest of the world was
incorrect, and that, in fact, the global economy remains
closely connected by both trade and financial linkages."

ATLANTA FED PRESIDENT DENNIS LOCKHART, AUG 27:

"I am comfortable with the current policy. I believe we
need to give the second half (of 2008) a little time, to see if
the scenario that I personally am counting on plays out more or
less according to plan," he told reporters after a speech at an
economics conference hosted by Georgia State University.

"Many markets continue to be strained. ... It seems to me
that we have to continue to be very vigilant about the status
of the financial markets and their potential negative impact on
the general economy," he said.

DALLAS FED PRESIDENT RICHARD FISHER, AUG 26:

"The real concern I have as a central banker is whether or
not (inflation) begins to affect the mentality of spending
patterns by consumers (and) pricing patterns by producers,"
Fisher told Dow Jones Newswires in an interview.

"I don't know the answer to that question -- it's sort of
50-50" whether the inflation gains will prove a "one-off
event," or something more persistent, Fisher said.

* PHILADELPHIA FED PRESIDENT CHARLES PLOSSER, AUG 25:

"If we don't reverse our accommodative stance sooner rather
than later, we will face rising inflation, which may be costly
to deal with," Plosser said in an interview in The New York
Times published on Monday.

Leaving rates too low could create "a risk to the Fed's
credibility to contain inflation," Plosser said from the Kansas
City Fed's economic symposium in Jackson Hole, Wyoming.

* FED CHAIRMAN BEN BERNANKE, AUG 22:

Bernanke called a recent decline in commodity prices and
stabilization of the U.S. dollar "encouraging."

"If not reversed, these developments, together with a pace
of growth that is likely to fall short of potential for a time,
should lead inflation to moderate later this year and next," he
told a Kansas City Fed symposium in Jackson Hole, Wyoming.

FOMC STATEMENT, AUG 5:

"Economic activity expanded in the second quarter, partly
reflecting growth in consumer spending and exports. However,
labor markets have softened further and financial markets
remain under considerable stress. Tight credit conditions, the
ongoing housing contraction, and elevated energy prices are
likely to weigh on economic growth over the next few quarters.
Over time, the substantial easing of monetary policy, combined
with ongoing measures to foster market liquidity, should help
to promote moderate economic growth.

"Inflation has been high, spurred by the earlier increases
in the prices of energy and some other commodities, and some
indicators of inflation expectations have been elevated. The
Committee expects inflation to moderate later this year and
next year, but the inflation outlook remains highly uncertain.

"Although downside risks to growth remain, the upside risks
to inflation are also of significant concern to the Committee.
The Committee will continue to monitor economic and financial
developments and will act as needed to promote sustainable
economic growth and price stability."
(Reporting by Alister Bull; Editing by Jonathan Oatis)