President Obama's three nominees for seats on the Federal Reserve Board told lawmakers today that they would support policies to encourage more economic growth and be stronger regulators of financial institutions.
The central bank "must craft policies that ensure the country accelerates its recovery path and avoid any threats to price stability," said San Francisco Federal Reserve Bank President Janet Yellen, who has been nominated to be vice chairman of the Federal Reserve Board.
She said they want to ensure that they don't "inadvertently discourage," business lending.
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