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3 Fed nominees signal support for current policy

Obama's 3 nominees for the Federal Reserve signal support for current policies

3 Fed nominees signal support for current policy

WASHINGTON (AP) -- 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 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.

Updated : 2021-07-29 05:26 GMT+08:00