FACTBOX: Fed policy-makers' recent comments

WASHINGTON (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.

*FED VICE CHAIRMAN DONALD KOHN, NOV 28:

"The increased turbulence of recent weeks partly reversed some of the improvement in market functioning over the late part of September and October," he said in a speech to the Council on Foreign Relations in New York.

"Should the elevated turbulence persist, it would increase the possibility of further tightening in financial conditions for households and businesses," he said.

"Uncertainties about the economic outlook are unusually high right now," he said. "These uncertainties require flexible and pragmatic policymaking -- nimble is the adjective I used a few weeks ago."

"The one thing that has really changed since the last meeting is the deterioration in credit markets and financial markets," he said in response to a question.

"I think the losses that ... seem in train and have been announced were greater than people expected. This raised questions about financial institutions, how much capital they had, how vigorous they would be in pursuing new loans.

"Financial institutions became more cautious, and I think this process is one that we are going to have to take a look at when we meet in a couple of weeks," he said.

*CHICAGO FED PRESIDENT CHARLES EVANS, NOV 27:

"While the risk is still present of notably weaker-than-expected overall economic activity, given the policy insurance we have put in place I don't see this as likely," he told a Futures Industry Association conference in Chicago.

"As of today, I feel that the stance of monetary policy is consistent with achieving our dual mandate objectives and will help promote well-functioning financial markets."

PHILADELPHIA FED PRESIDENT CHARLES PLOSSER, NOV 27:

"In the current environment, providing insurance through a reduction in the fed funds rate creates its own set of additional risks," he said in a speech to the Rochester University Simon Graduate School of Business.

"A lower funds rate creates a risk that inflation may be exacerbated and inflationary expectations may begin to rise."

"In some circumstances, lowering interest rates may prolong the painful process of price discovery," he said.