Bernanke's 2007 statements

Some of Federal Reserve Chairman Ben Bernanke's remarks on the economy during 2007:

_Nov. 29: "The combination of higher gas prices, the weak housing market, tighter credit conditions and declines in stock prices seem likely to create some headwinds for the consumer in the months ahead."

_Oct. 15: "Conditions in financial markets have shown some improvement since the worst of the storm in mid-August, but a full recovery of market functioning is likely to take time, and we may well see some setbacks."

_July 18: "Overall, the U.S. economy appears likely to expand at a moderate pace over the second half of 2007, with growth then strengthening a bit in 2008."

_June 15: "Just as a healthy financial system promotes growth, adverse financial conditions may prevent an economy from reaching its potential."

_May 17: "We believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system."

_Feb. 14: "Overall, the U.S. economy seems likely to expand at a moderate pace this year and next, with growth strengthening somewhat as the drag from housing diminishes."