osakaboi It's still not really translatable, now that I think about it. The two major types of conservatives in the US are (1) social and (2) fiscal (money).
For example, Ron Paul, a Republican from Texas, is a fiscal conservative. However, he's a social liberal because he believes in things like legalizing marijuana.
On the other hand Bush is a social conservative because he favors religious intervention in society, preventing gay marriage, etc.
Why don't you just tell us how you want to use the word. Just asking for "conservative" or "liberal" is very much asking for a poor translation.
But, in general, "textbook" translations (not indicating a specific political party) could be 保守的 (preserve+protect+adjective_suffix) for conservative and リベラル for liberal. An example sentence on Space ALC is
Quote:
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彼は金銭に関しては保守的だが、政治についてはリベラ ルだ。
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This translates to "He is fiscally conservative but politically liberal.
However, if you mean "conservative" as a synonym for Republican (which it technically is not), you'd go with 共和党 and for Democrat you'd say 民主党.