, Columnist
Jay Powell May Be the Most Important Climate Decision-Maker
The speed of our transition to a carbon neutral world could become collateral damage in the trend toward rate hikes. Central banks should take note.
The planet is heating up.
Photographer: Philip Pacheco/BloombergThis article is for subscribers only.
The most important decision-maker for the future of the climate isn’t Saudi Crown Prince Mohammed Bin Salman, Chinese President Xi Jinping, U.S. Senator Joe Manchin or Tesla Inc. Chief Executive Officer Elon Musk — it’s Federal Reserve Chair Jerome H. Powell.
You might not think that interest rates were as crucial as carbon pricing, the price of oil, the cost of polysilicon for solar panels, or whether you can buy an electric SUV for less than a gasoline-powered equivalent.