Posted on 11/09/2019 12:23:53 PM PST by Tolerance Sucks Rocks
SAN FRANCISCO (Reuters) - The U.S. central bank signaled on Friday it may be getting ready to join international peers in incorporating climate change risk into its assessments of financial stability, and may even take it into account when setting monetary policy.
"To fulfill our core responsibilities, it will be important for the Federal Reserve to study the implications of climate change for the economy and the financial system and to adapt our work accordingly," Fed Governor Lael Brainard said in remarks released at the start of the Fed's first-ever conference on climate change and economics.
The Fed, she said, will need to look at how to keep banks and the financial system resilient amid risks from extreme weather, higher temperatures, rising sea levels and other effects of the accumulation of greenhouse gases in the atmosphere.
And increasingly, she said, "it will be important for the Federal Reserve to take into account the effects of climate change and associated policies in setting monetary policy to achieve our objectives of maximum employment and price stability."
Brainard's comments mark a shift for the Fed, which lags other major central banks that have made climate change an explicit part of their financial stability remits. Her talk, the first she's given in her five-year tenure at the Fed that even mentions the subject, suggests she and her colleagues are taking the risks and costs of global warming seriously.
The U.S. central bank's attention to global warming comes even as President Donald Trump's administration denies it exists. Trump on Monday notified the United Nations that the United States will in 12 months leave the Paris Climate Accord, under which 195 nations agreed to reduce greenhouse gas emissions in a bid to prevent catastrophic planetary warming.
(Excerpt) Read more at kfgo.com ...
Climate has been changing for millions of years and we are just now noticing it, and it scares us. Mostly since we don’t have a God to pray to any more, we have to take things under our own control. At one time we had progress, advancement and optimism about going to the moon, and now we have just fear of having to pay for going to the hospital. Climate change is just a way to get people worried so that they will vote for socialism as the only way to make everything right and fair.
abolish the Fed.
Then, we too can have worthless, hyperinflated currency that lies around in drifts in street gutters, just like in Caracas.
Do not think that they are stupid or crazy. Man made climate change gives men who think it is their place to rule an excuse to rule, they seek out such excuses. What they believe, or say they believe, can be simply understood as a function of their other priorities, which is to say their other reasons to believe than what passes for “science”.
The Left has no sense.
Yes, they’ll not adopt a Big Brother. But a LittleSister? Without hesitation.
The nexis of banking and politics is a veritable volcano of graft and corruption.
“Follow the money.”
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