Fed’s Powell Says Central Banks Must Help Address Climate Change

Federal Reserve Chair Jerome Powell said the U.S. central bank has been cooperating with its counterparts around the world to address risks presented by climate change.

“What we’re really working on is: how do we incorporate climate change risk into all that we do,” Powell said during an online panel Thursday hosted by the European Central Bank. “It has potential implications for monetary policy, for bank regulation, for financial stability, and I would say we’re in the very early stages of trying to work through what that means for our goals.”