Politic > U.S.

The Fed Is Neglecting Its Duty on Climate Change

1 month ago   |   By The New Republic

In early May, the United States Federal Reserve ordered the largest interest rate hike in over 20 years. This week, Fed Chair Jerome Powell declared he “won't hesitate” to go even further, calling action on inflation an “unconditional need.” This urgency to maintain price stability highlights a disturbing contrast at the heart of U.S. monetary policy: As the Fed goes all out to curb inflation, it continues to ignore a far more profound threat to our economic and financial stability-climate change. By the year 2100, according to one study , the high-end cost of unchecked climate change...
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