Fed will not fight climate change without mandate, Powell says
Elected officials must take lead in policies to green economy, Fed chair argues
The US Federal Reserve should not attempt to fight climate change without a mandate to do so, its chairman Jay Powell said today (January 10).
“We are not, and will not be, a climate policy-maker,” Powell told a conference in Stockholm to mark the retirement of Sveriges Riksbank governor Stefan Ingves. He said the Fed must address climate-related threats to financial stability, but argued that elected officials should take the leading in tackling the environmental crisis.
The Fed would risk
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