Biden must focus on climate change, replace Jay Powell as Fed chair

to mitigate both the damage climate change does to the financial system, and the damage the financial system is doing to the planet.

That means these big banks are plowing money into investments that will become worthless as the clean-energy transition accelerates. It's just the kind of dangerous investment that the Fed failed to prevent in 2007, opening the door to a financial crash that wrecked the economy. Powell may get credit for forward thinking changes to the Fed's monetary policy framework, but his approach to financial regulation is. Given the damage the 2008 crisis did to the economy, President Biden cannot accept that attitude in his nominee. The Federal Reserve could have stopped banks from selling bad subprime mortgage loans in 2007, and it can stop them from financing emissions that the economy cannot survive now. to bring banks into line.

Public_Citizen This is a joke! Renominating a Federal Reserve Board Chairman based upon climate change? These libs are wayyyyy out of hand already.

Public_Citizen Once again, people who say that they believe in climate change are also close-minded idealess who refuse to believe that Inverted Transfer Energy eco-technology is the evolution for a standalone residential size renewable energy system in order to keep the battery banks charged.

Public_Citizen Whatt ? As if the Fed, thanks to whose work we are in this mess, which is of course not the fault of one single man, was capable of saving the planet.

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