3 Fed nominees signal support for current policy

WASHINGTON (AP) — Three nominees for the Federal Reserve’s board expressed their support Thursday for the Fed’s efforts to bolster the U.S. economy. Their comments suggested that the Fed’s low-interest-rate policies will continue if they win confirmation.

Stanley Fischer, who has been nominated to be vice chairman; 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 during a confirmation hearing before the Senate Banking Committee.