While primary responsibility for addressing climate change itself rests with elected officials, we are committed to working within our existing mandates and authorities to address the implications of climate change.
Powell emphasizes the role of elected officials in climate change while stating the Fed's commitment.
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It is a big risk to our independence if we were to stray into areas where we shouldn’t that really aren’t part of our mandate.
So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.
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