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.

* PHILADELPHIA FED PRESIDENT CHARLES PLOSSER, JULY 22:

"To keep inflation expectations anchored means that monetary policy-makers will have to back up their words with actions.

"We will need to reverse course. I anticipate the reversal will need to be started sooner rather than later."

* MINNEAPOLIS FED PRESIDENT GARY STERN, JULY 18:

"We can't wait until we clearly observe the financial markets at normal, the economy growing robustly, and so on and so forth. Our actions will affect the economy in the future, not at the moment. Forecasts play a critical role.

"We're pretty well positioned for the downside risks we might encounter from here. I worry a little bit more about the prospects for inflation."

KANSAS CITY FED PRESIDENT THOMAS HOENIG, JULY 16:

"It will be important for the Federal Reserve to monitor inflation developments and inflation expectations closely, and to move to a less accommodative stance in a timely fashion.

"When to begin this process, and how fast to move, will be difficult decisions.

"While a 2-percent federal funds rate may be appropriate in a period of extreme economic weakness, if maintained for too long it could allow inflationary pressures to build over time."

* FED CHAIRMAN BEN BERNANKE, JULY 16:

"I couldn't agree with you more that inflation is a tax, and that inflation currently is too high and it's a top priority of the Federal Reserve to run a policy that's going to bring inflation to an acceptable level."

"The housing market is really the central element of this (financial) crisis, and anything we can do to strengthen the housing market, to strengthen mortgage finance, would be beneficial"

* FED CHAIRMAN BEN BERNANKE, JULY 15: