This does seem like a slowdown that so far hasn't been that preventable and I think what we're going to get this year is going to be slower growth that is going to be difficult to completely counteract. So I think it's useful not to be too optimistic about the magnitude of the potential effect for fiscal stimulus, even if it's useful.

From press Q&A, as reported by Market News International

Lockhart said fiscal policy and discussing possible stimulus is the purview of the Treasury Department, but noted $75 billion to $100 billion is a "sensible" figure.

From audience Q&A as reported by Market News International

To be useful, a fiscal stimulus package should be implemented quickly and structured so that its effects on aggregate spending are felt as much as possible within the next twelve months or so.  Stimulus that comes too late will not help support economic activity in the near term, and it could be actively destabilizing if it comes at a time when growth is already improving.  Thus, fiscal measures that involve long lead times or result in additional economic activity only over a protracted period, whatever their intrinsic merits might be, will not provide stimulus when it is most needed...  A fiscal program that increased the structural budget deficit would only make confronting those challenges more difficult.

I think we need to use a multipronged approach to help reduce the downside risk to the real economy.

From remarks as delivered, as reported by Market News International