Posted on 01/20/2023 3:22:53 PM PST by DogByte6RER
In response to your recent December news release statement concerning “Principles for Climate-Related Financial Risk Management for Large Financial Institutions” and request for public comments, I have the following comment to your board.
The intended purpose of the Federal Reserve is formulating U.S. monetary policy through the control of currency and interest rates, as well as promoting financial stability through the regulating of financial institutions. If members of the Federal Reserve are so concerned about climate, environmental and energy policies, then I strongly suggest that those members resign from the Federal Reserve.
These former members could then simply seek other employment with agencies like the U.S. Environmental Protection Agency, the U.S. Department of Energy or other agencies and NGOs.
Otherwise, it is vital that the Federal Reserve contains itself to its core mission of monetary policy and controlling our U.S. currency. Americans do not expect the EPA or the Energy Department to raise or lower interest rates, or to print more U.S. currency. Neither do Americans expect the Federal Reserve to be wading into the politics of climate, environmental and energy policies.
Federal Reserve Chair Jerome Powell recently delivered a speech in Sweden in which he expressly spoke of this very same sentiment:
“Decisions about policies to directly address climate change should be made by the elected branches of government and thus reflect the public’s will as expressed through elections,” he said. “But without explicit congressional legislation, it would be inappropriate for us to use our monetary policy or supervisory tools to promote a greener economy or to achieve other climate-based goals. We are not, and will not be, a ‘climate policymaker.’”
(Excerpt) Read more at myvalleynews.com ...
Abolish it!
I would love to hear Ron Paul go off on the Fed these days the way he did his entire career in Congress.
It’s a good letter.
The climate change cancer has infected everything and everyone because we allow it. Cal it what it is ITS A SCAM TO GIVE THOSE ELITISTS CONTROL OVER US AND TO STEAL OUR MONEY
IT’S NOT FEDERAL, AND THERE ARE NO RESERVES
Does anyone who these are addressed to ever read these open letters?
Ping
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