The financial impacts that result from the economic impacts of climate change and the transition to a lower carbon economy pose an emerging risk to the safety and soundness of financial institutions and the financial stability of the United States.
Powell highlights climate change as a risk to financial stability.
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More from Jerome Powell
As long as the economy is in solid shape, we think the prudent thing to do is to wait and see what those effects might be.
There are no new water features, there’s no beehives, and there’s no roof terrace gardens
As long as the U.S. economy is in solid shape, the prudent thing to do is to wait and learn more and see what the effect might be.
We’re trying to deliver macro stability, financial stability, economic stability for the benefit of all the people.
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