The U.S. Federal Reserve's two objectives of full employment and stable prices are appropriate, a central bank spokeswoman said Tuesday, after Republicans urged a change in the Fed's dual mandate.

After meeting with Fed Chairman Ben Bernanke, Sen. Bob Corker (R., Tenn.) Tuesday called for a narrowing of the Fed's focus to price stability, removing the other goal of achieving maximum sustainable employment.

"The Federal Reserve is not seeking a change to its statutory mandate. The dual mandate is appropriate," said Michelle Smith, spokeswoman at the Fed.

A top House Republican, Mike Pence of Indiana, Tuesday introduced a bill that would scale back the Fed's mandate. He said the Fed's recent decision to buy $600 billion in U.S. Treasurys to boost the economy and jobs is an example of the failure of the Fed's dual mandate because it runs the risk of sparking inflation and hurting the U.S. dollar.

The majority of central banks in large advanced economies have price stability as their only goal. But the Fed was given two objectives by Congress: after the 1930s Great Depression and high unemployment, the Fed was tasked with keeping the economy and jobs growing. Price stability was added following the double-digit inflation seen in the 1970s.

The two Republican lawmakers are due to hold a press conference detailing their proposals later Tuesday.

-By Luca Di Leo, Dow Jones Newswires; 202 862 6682; luca.dileo@dowjones.com