FACTBOX: Fed policy-makers' recent comments

CHICAGO (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.

* PHILADELPHIA FED PRESIDENT CHARLES PLOSSER, DEC 2:

"The Fed must credibly commit to preventing sustained deflation from becoming widely anticipated, just as it must prevent sustained inflation from becoming widely anticipated."

ST LOUIS FED PRESIDENT JAMES BULLARD, DEC 2:

"I don't think the risk (of deflation) is that high right now. I do think that the inflation expectations are very fluid right now. The big challenge for the Fed is to keep these under control."

* FED RESERVE CHAIRMAN BEN BERNANKE, DEC 1:

"Although conventional interest rate policy is constrained by the fact that nominal interest rates cannot fall below zero, the second arrow in the Federal Reserve's quiver -- the provision of liquidity -- remains effective. Indeed, there are several means by which the Fed could influence financial conditions through the use of its balance sheet, beyond expanding our lending to financial institutions. First, the Fed could purchase longer-term Treasury or agency securities on the open market in substantial quantities."

CHICAGO FED PRESIDENT CHARLES EVANS, NOV 21:

"Committee members also noted that the degree of uncertainty about the outlook was unusually high. In large part this reflects the wide range of possible outcomes for the financial crisis and the associated interactions with the real economy. Personally, I thought it was easier to envision the bad-outcome scenarios than the good ones. Most of my colleagues agreed, and so viewed the risks to the forecast as being skewed to the downside."

RICHMOND FED PRESIDENT JEFFREY LACKER, NOV 21:

"Many analysts expect the U.S. economy to regain positive momentum some time in 2009. That strikes me as a reasonable expectation.

"It may seem premature to be worrying about how inflation behaves after the recession is over, but we need to be sure our policy remains consistent with a strategy that does not allow inflation to ratchet up over the business cycle."

ST LOUIS FED PRESIDENT JAMES BULLARD, NOV 20:

"At least over the near term, any additional influence through interest rate reductions will be limited, and the focus of monetary policy may turn to quantity measures.

"The fact is, monetary policy defined as movements in short-term nominal interest rates is coming to an end, at least for now."