What would the Federal Reserve and the ECB do today if their objective was financial stability?

The Federal Reserve is probably seeking to prolong the growth period in the United States; the ECB to maintain the fiscal solvency of the euro-zone countries. In both cases, they are able to pursue these objectives because inflation is below target. But what would these two central banks do if their objective was financial stability? They would look at trends in public and private debt and in asset prices (equities, real estate). Probably: The Federal Reserve would then likely raise its interest rates (public and corporate overindebtedness, high valuation of equities and commercial real estate); The ECB would not yet be faced with severe financial imbalances.