The Fed chairman said the central bank is trying to tackle hot inflation amid a tight labor market.
Surging inflation has spurred some U.S. central bankers to revise up their outlook for rate increases this year.
Investors have already priced in four increases for this year with the first in March.
Financial markets interpreted the minutes of the Fed's December meetings as unequivocally hawkish.
The Fed's vice chair is expected to be strongly committed to maximum employment.
A Republican, Jerome Powell faces what will likely be a smooth confirmation in the Senate.
He also believes bond markets will be resilient if the Fed accelerates its tightening.
Federal Reserve Governor Lael Brainard was interviewed for the top job at the U.S. central bank.
The pandemic shock has forced managers everywhere to try doing things differently.
Federal Reserve Vice Chair Richard Clarida said he expected inflation pressures to ease.
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