The Federal Reserve is taking steps to prepare the American financial system for the effects of climate change, according to Fed Chairman Jerome Powell.
Federal Reserve Chairman Jerome Powell speaks during a discussion at the Economic Club of Washington on January 10, 2019, in Washington, DC.The Federal Reserve is taking steps to prepare the American financial system for the effects of climate change, according to Chairman Jerome Powell. In response, Powell wrote that the Federal Reserve viewed climate risks through the lens of potential "shocks to the system" in the form of severe weather events, rather than as a systemic vulnerability. Powell had previously compared climate change to the risks posed by the potential failure of information technology.
A group of more than 30 central banks from around the world, including the European Central Bank and the People's Bank of China, have joined theIn March, Glenn Rudebusch, a senior policy advisor for the San Francisco Fed,that the "even long-term risks can have near-term consequences as investors reprice assets for a low-carbon future."
Powell wrote the Fed is taking steps to ensure that the nation's financial infrastructure will withstand severe weather events.
Source: Energy Industry News (energyindustrynews.net)
This is nonsense, unless the Fed prints without the limit of the Dollars. Then there will be hyper inflation! What will be the ultimate benefit?
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The preparation SHOULD consist of avoiding ClimateChange being used as a front for global welfare
Make big fans out of dollar bills ?
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Yes, we do need to survive the changes that come with weather
😂🤣😂🤣😂🤣😂
what does that even mean..🤔
AlGore needs another mansion
You mean like, Carla, Katrina, Audry, Rita etc. Been happening, Next topic.
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