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.

FEDERAL OPEN MARKET COMMITTEE, AUG 7:

"Economic growth was moderate during the first half of the year. Financial markets have been volatile in recent weeks, credit conditions have become tighter for some households and businesses, and the housing correction is ongoing. Nevertheless, the economy seems likely to continue to expand at a moderate pace over coming quarters, supported by solid growth in employment and incomes and a robust global economy.

"Readings on core inflation have improved modestly in recent months. However, a sustained moderation in inflation pressures has yet to be convincingly demonstrated. Moreover, the high level of resource utilization has the potential to sustain those pressures.

"Although the downside risks to growth have increased somewhat, the Committee's predominant policy concern remains the risk that inflation will fail to moderate as expected. Future policy adjustments will depend on the outlook for both inflation and economic growth, as implied by incoming information."

* FED GOVERNOR RANDALL KROSZNER, AUG. 2:

On impact of subprime mortgage distress: "I think at this stage the economic fundamentals are really unchanged from where Chairman Bernanke talked about them here in this committee about two weeks ago and so we have not seen an effect on the broader real economy. But we are looking very, very carefully at that."

FED GOVERNOR NOMINEE ELIZABETH DUKE, AUG. 2:

"Unfortunately, I do have some experience with troubled debt, and that specific issue will probably get a lot worse before it gets better.

"I don't think that the subprime issues have impacted the overall economy, the day-to-day functioning of the economy."

* ST. LOUIS FED PRESIDENT WILLIAM POOLE, JULY 31:

"The Fed doesn't know, and market participants do not know either, the full implications of last week's stock market declines and increases in the risk spreads."

"Most of these upsets stabilize on their own, but some do not. I'm not saying that the Fed should ignore what happened last week -- we need to understand what is happening."

"The market understands, I believe, that the Fed will act in due time if and when evidence accumulates that action would be appropriate."

* NEW YORK FED PRESIDENT TIMOTHY GEITHNER, JULY 25: