Fed will not fight climate change without mandate, Powell says

Elected officials must take lead in policies to green economy, Fed chair argues

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

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account