There is a slight raising of the forearm and forward motion of the elbow (actually the shoulder moving the elbow via the biceps) as the stick comes up to it's highest position for me, and I was taught to allow that to happen. It's simply the mechanics of the entire arm being engaged in the highest/loudest strokes. The added thrust created by the weight of the forearm coming downward as the stroke unfurls helps create velocity at the stick tip - i.e. volume - if you're using your fulcrum correctly to allow the stick to rotate/accelerate. Holding the forearm static while simply bending at the wrist doesn't feel very natural to me. YMMV. This, of course, all applies to the German/American (I hate those labels) position.
In the French position, there is a slight rotation inward as I come up which exposes the palm and the underside of the arm to my view on the way up, but at the highest point the radius bone has rotated inward to start the downward motion. But, the French position relies on the torque created by that rotation of the forearm for its power.