The prepared testimony from Fed Vice Chair nominee Stanley Fischer and Fed Governor nominee Lael Brainard show they support current monetary policy.
"At present, achievement of both maximum employment and price stability requires the continuation of an expansionary monetary policy - even though the degree of expansion is being gradually and cautiously cut back as the Fed reduces its monthly purchases of longer-term Treasury securities and agency mortgage-backed securities," Fischer says in the prepared testimony.
"In recent years the Federal Reserve has made significant progress toward achieving its Congressionally mandated goals of maximum employment and price stability. Nonetheless, normalcy has not been restored," he said.
rainard said she would "be intensely focused on safeguarding the Fed's hard won credibility in preserving price stability, while supporting its indispensable role in getting Americans back to work, and strengthening its role in ensuring a safe and sound financial system."
