FACTBOX-U.S. Fed policymakers' recent comments

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

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

KANSAS CITY FED PRESIDENT THOMAS HOENIG, MARCH 7:

"Monetary stimulus is facing significant headwinds ... In these circumstances, a central bank may have to ease policy more in order to achieve its desired effect.

"There may be a buildup of inflation pressures if monetary policy remains too easy for too long ... Historically it has been more difficult to remove policy accommodation in a timely fashion, which may have consequences for a central bank's longer-term inflation objective."

* FED VICE CHAIRMAN DONALD KOHN, MARCH 7:

"Policy-makers must be mindful of the uncertainties surrounding the outlook for commodity prices and the risk that past or future increases in these goods could yet embed themselves in higher long-run inflation expectations and a persistently faster rate of overall price increases."

* DALLAS FED PRESIDENT RICHARD FISHER, MARCH 7:

"Globalization does not undermine the ability of the Fed ... to control inflation over an appropriate time horizon. But it does challenge us -- you might say it disciplines us -- to conduct monetary policy more prudently."

SAN FRANCISCO FED PRESIDENT JANET YELLEN, MARCH 7:

"The U.S. economy is particularly exposed to downside risks from the unwinding of the housing bubble and disruptions in financial markets.

"There is some slack now in the U.S. labor market and, if these downside economic risks materialize, quite a bit more slack could emerge."

ST. LOUIS FED PRESIDENT WILLIAM POOLE, MARCH 6:

"Insurance against recession is not free. We have to have a balance (between) employment and financial risks with inflation risks. We could surely follow a massively expansionary policy ... but only at a risk of inflation and a bigger recession later."

BOSTON FED PRESIDENT ERIC ROSENGREN, MARCH 6:

"I certainly think it is possible" for the United States to steer clear of recession. "It is too early to tell how the economy is going to evolve ... For the second quarter people are starting to reduce their forecasts.