The FED Now Believes It is Within the Local weather Change Enterprise
The FED is again working on its left-wing climate change program instead of focusing on the economy.
We reported a few months ago that the FED was starting work on a climate protection initiative:
Instead of focusing on helping the American economy, the FED, along with the central banks, thrives the financial industry
You are back. The Washington Examiner reports today:
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The Federal Reserve has set up a new climate committee to address the risks of climate change to financial stability.
The new effort, known as the Financial Stability Climate Committee, will draw on expertise across the Federal Reserve system and is designed to address risks to the broader financial system, said Lael Brainard, a member of the Federal Reserve’s board of governors. She announced the new committee during a speech Tuesday at a virtual conference hosted by sustainable investment group Ceres.
The committee comes on top of the Fed’s creation of a separate climate initiative earlier this year, the Supervision Climate Committee, which is more focused on ensuring that individual financial firms overseen by the Fed are prepared for climate-related risks.
The new committee will focus not only on assessing potential climate shocks, but also on whether climate change could make the financial system more vulnerable in ways that could exacerbate those shocks and have wider impacts that could harm households, businesses and communities. Said Brainard.
However, it is hard to see how the Fed’s responses to human-made climate change are not doing its job:
The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective functioning of the US economy and the public interest in general. The Federal Reserve:
• Conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the US economy;
• Promotes the stability of the financial system and seeks to minimize and contain systemic risk through active monitoring and engagement in the US and abroad;
• promotes the security and soundness of individual financial institutions and monitors their impact on the financial system as a whole;
• Promotes the security and efficiency of the payment and settlement system by providing banking and US government services that facilitate US dollar transactions and payments; and
• Promotes consumer protection and community development through consumer-centric monitoring and review, research and analysis of emerging consumer problems and trends, community economic development activities, and management of consumer laws and regulations.
Where is the FED claiming to try to stop man-made unconfirmed climate change?