Fed will not fight climate change without mandate, Powell says

Jerome Powell
Jay Powell
Federal Reserve

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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