Fed Vice Chairman Stanley Fischer said on Friday that there are no risks to short-term financial stability.

"Banks are well capitalized and have sizable liquidity buffers, the housing market is not overheated and borrowing by households and businesses has only begun to pick up after years of decline or very slow growth," he said.

Fischer directly said nothing about the Fed's monetary policy.

"The limited macroprudential toolkit in the United States leads me to conclude that there may be times when adjustments in monetary policy should be discussed as a means to curb risks to financial stability. A more restrictive monetary policy would, all else being equal, lead to deviations from price stability and full employment," he noted.