FACTBOX-U.S. Fed policymakers’ recent comments

April 28 (BestGrowthStock) – The following is a summary of recent
comments by Federal Reserve policymakers:

* Denotes 2010 voting member of the Federal Open Market
Committee, which sets U.S. monetary policy.

APRIL 28 FOMC POLICY STATEMENT:

“The Committee will maintain the target range for the
federal funds rate at 0 to 1/4 percent and continues to
anticipate that economic conditions, including low rates of
resource utilization, subdued inflation trends, and stable
inflation expectations, are likely to warrant exceptionally low
levels of the federal funds rate for an extended period.”

* FED CHAIRMAN BEN BERNANKE, April 15

“The Federal Open Market Committee has stated clearly that
they currently anticipate that very low, extremely low rates
will be needed for an extended period.”

* KANSAS CITY FED PRESIDENT THOMAS HOENIG, April 16

“My view is we should exit as deliberately as possible …
I don’t want to disrupt the market by quick sales but I want to
leave the option open for taking them off the balance sheet
through more than just amortization.”

* ST. LOUIS FED PRESIDENT JAMES BULLARD, April 15

On extended period pledge: “Everything depends on economic
performance and we’d like to be able to convey that.”

RICHMOND FED PRESIDENT JEFFREY LACKER, April 15

“I’m comfortable with interest rates where they are now.”

SAN FRANCISCO FED PRESIDENT JANET YELLEN, April 15

“I expect the pace of recovery to gain momentum over the
course of this year and next as households and businesses
regain confidence, overall financial conditions continue to
improve, and lenders increase the supply of credit.”

DALLAS FED PRESIDENT RICHARD FISHER, April 15

“Our balance sheet is way too large. We have assets on our
balance sheet which will create problems unless we figure out
how to manage them.”

* NEW YORK FED PRESIDENT WILLIAM DUDLEY, April 14

“It still seems likely that recovery will be muted compared
to past recoveries … The bank system is still under a lot of
stress and households have probably not fully adjusted yet” to
a sharp slide in housing prices.

* FED GOVERNOR DANIEL TARULLO, April 8

“The relatively modest pace of recovery, the continued high
rate of unemployment, subdued inflation trends, and
well-anchored inflation expectations together suggest that the
need for highly accommodative monetary policies will not
diminish soon.”

MINNEAPOLIS FED PRESIDENT NARAYANA KOCHERLAKOTA, April 8

“The economy is on the mend and should continue to recover
over the next two years – in terms of both GDP and unemployment
– but at slower rates than we would like.”

* CLEVELAND FED PRESIDENT SANDRA PIANALTO, March 25

“Despite early signs of recovery, the economy is still
facing some significant headwinds that will limit the rate of
growth we can expect for the next couple of years.”

* BOSTON FED PRESIDENT ERIC ROSENGREN, MARCH 3

“If we take a good hard analytical look at the last
recovery, we see that the low fed funds rate was not the
standout, and stand-alone, culprit that many assume … This is
a crucial matter to consider right now, when rates are very low
— in my opinion, totally appropriately — because some are
predicting that these rates will fuel another bubble.”

PHILADELPHIA FED PRESIDENT CHARLES PLOSSER, March 1

“I would rather have language that is more conditional on
the state of the economy, and less upon some arbitrary time
frame … I’m not really fond of this notion that ‘extended
period’ means six months. That’s tying our hands in a way that
seems to be inappropriate and unnecessary.”

Stock Market Investing

(Compiled by Reuters Fed reporters; Editing by James
Dalgleish)

FACTBOX-U.S. Fed policymakers’ recent comments