Miran claims climate work is real threat to Fed independence
Nominee would ‘forcefully push back’ on bank incorporating global warming risks in its assessments
Stephen Miran has insisted he will remain independent if the US Senate approves his nomination to the Federal Reserve board, but claimed the main threat to the bank’s autonomy came from its work on climate risk.
At his hearing before the Senate banking committee on September 4, Miran characterised the incorporation of climate risks into the Fed’s monetary policy and financial stability assessments as a “highly political, non-technocratic” threat to its independence. He added that if the Senate
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