WASHINGTON (AP) â€” Three nominees for the Federal Reserve’s board are expressing their support for the Fed’s efforts to bolster the U.S. economy. Their comments suggest that the Fed’s low-interest-rate policies will continue if they win confirmation.
Stanley Fischer, who has been nominated to be vice chairman of the board; Lael Brainard, a former Treasury undersecretary; and Jerome Powell, a current board member who has been nominated for another term, all endorsed the Fed’s current policy stance under Chair Janet Yellen.
Senate Banking Committee Chairman Tim Johnson, D-S.D., says he supports the three nominees and hopes the full Senate quickly confirms them to fill vacancies on the Fed’s seven-member board.
The three were nominated by President Barack Obama in January. Yellen took over as Fed chair on Feb. 3, succeeding Ben Bernanke.