Pirate's Cove

Perhaps it’s time for Trump to replace these unelected officials

Fed has a role in combating climate change risk, Powell says

While the overall U.S. response to climate change is up to elected officials, Federal Reserve Chair Jerome Powell said on Wednesday, the Fed can play a part in keeping global warming from destabilizing U.S. banks and financial markets.

“The public has every right to expect and will expect that we will ensure that the financial system is resilient and robust against the risks of climate change,” Powell said at a news conference following the Fed’s January meeting.

Asked why the Fed has not joined dozens of other global central banks in the Network for Greening the Financial System, an international effort to better understand risks from rising temperatures, Powell signaled it is just a matter of time.

“We’ve been looking at joining in one form or another … we probably will do that at some point,” Powell said, adding that Fed representatives have been participating in the group’s meetings.

Scientists say human-generated carbon dioxide is a key cause of global warming that has exacerbated wildfire seasons, helped spawn increasingly destructive hurricanes, and initiated a rise in sea level that threatens coastlines around the world.

Apparently, it was you dropping the kids off in a fossil fueled vehicle that started sea rise 20,000 years ago. And that cheeseburger you ate the other day caused the Great Galveston hurricane of 1900. Anyhow, what is the actual role of the Fed?

The Federal Reserve in the United States acts as the country’s central bank. It has a mandate to promote maximum employment, stable prices and moderate long-term interest rates.

The “Fed” has three main functions. They are to provide and maintain an effective payments system, supervise and regulate banking operations, and conduct monetary policy.

But, if the Warmists can gain control if the Fed, it gives them more control of you via control of the economy.