I think that we have a mandate to ensure the safety and soundness of financial institutions, and that involves making sure that they manage and understand all of the risks that they face, which includes climate change risks.
Powell affirms the Fed's responsibility to address climate change risks.
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If we move too slowly, there may be unnecessary losses, painful losses in the employment market.
Rising downside risks to employment have shifted our assessment of the balance of risks
If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well.
Without the ability to pay interest on reserves, the Fed would lose control over rates
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