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article imageFed vice chair nominee Fischer stresses financial stability

    Mar 12, 2014 in Business

(Reuters) - Two nominees to top Federal Reserve policymaking posts stressed the importance of financial stability and getting Americans back to work as key goals for U.S. central bank.

"At present, achievement of both maximum employment and price stability requires the continuation of an expansionary monetary policy," Stanley Fischer, the former Bank of Israel chief who is nominated to be Fed vice chair, said in written testimony released on Wednesday for a Senate confirmation hearing set for Thursday.

Lael Brainard, a former deputy at the Treasury Department who has been nominated to be a Fed governor, said in her testimony the Fed "will need to carefully calibrate the tools of monetary policy to ensure an appropriate pace of normalization, while supporting the fragile recovery in our job market and ensuring inflation expectations remain well anchored."

(Reporting by Ann Saphir and Jonathan Spicer; Editing by Chizu Nomiyama)

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