Powell Committed To Tackling Climate Change In Talks With Biden: WH

"ABOARD AIR FORCE ONE - U.S. Federal Reserve Chair Jerome Powell underscored his commitment to putting climate change at the center of the central bank's policymaking decisions during his conversations with President Joe Biden, the White House said on Monday.

Biden on Monday renominated Powell, a Republican, to another four-year stint at the helm of the Fed, disappointing Democratic progressives who had pushed the White House to name a tough new regulatory chief to crack down on banks on issues such as climate change and fair lending. read more

Speaking to reporters aboard Air Force One, press secretary Jen Psaki said the Fed had taken important steps forward under Powell, including identifying climate change as a key risk that needs to be addressed, working with other central banks to mitigate climate change, and hiring a top climate economist."

Nandita Bose reports for Reuters November 22, 2021.

Source: Reuters, 11/23/2021