Does not want to follow climate policy for the United States

Fed-Chef Jerome Powell

“We are not climate politicians. We are not trying to be one.”

(Photo: Abby)

Washington According to its boss Jerome Powell, the US Federal Reserve does not intend to follow US climate policy. Among other things, Powell said at a virtual event organized by the International Bank for International Settlements (PIS) on Friday that central banks could play a key role in risk analysis and measurement. “But we’re not climate politicians, we’re not trying to be one.”

According to Powell, climate change has not yet played a major role in shaping US monetary policy. “Climate change is not something we take directly into account when determining monetary policy.”

The US Federal Reserve merged only with NGFS (Network for Greening the Financial System), a central banking network established in 2017, which includes supervisory authorities and central banks around the world. NGFS is committed to a more stable financial system. Members include the European Central Bank (ECP) and the central banks of Japan, Great Britain, Mexico and Canada. Fundsbank is a founding member.

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