During the hearing, I asked him if the Federal Reserve was taking into account systemic climate-related risks and if so, what action the Fed is taking to mitigate these risks?
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Today, @federalreserve Chairman Jerome Powell testified before @FSCDems to give us an update on monetary policy and the state of the economy.pic.twitter.com/hix8Q5t9ZS
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His answer reaffirmed the need for
@SenBrianSchatz and I’s Climate Change Financial Risk Act, which would require the Fed to conduct stress-testing on large financial institutions to ensure they are prepared for the future effects of#ClimateChange.Show this thread -
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The insolvency of the state of Illinois is more of an existential threat to Illinois and more immediate than climate change. The financial numbers are there.
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Talk to your state rep & State Senator!
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Thanks so much for these questions. Chairman Powell seems to think it's beyond the Fed's scope of responsibility to stress-test banks on specific impacts of climate disruption: 'It's a political problem.' How can we get serious people & institutions to better quantify the risks?
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...Aha. Your answer is a great one! Climate Change Financial Risk Act of 2019. H.R. 5194 But is MoscowMitch stonewalling it?
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State of the economy? Seriously? Well, it's GREAT! Lowest unemployment & lowest minority Unemployment EVER! Thanks to
@realDonaldTrump not a single@DNC member as#DemocratsHateAmerica! Soon your brief time is over. I can't wait!@JeanneIves to the rescue. -
Please don’t support Ives. She’s tainted and cannot win. If we are to get Casten out this election, vote for Dr. Kinzler in the IL GOP primary.
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'...accelerating rate of change.' So we are seeing the earth warm at an accelerated rate?
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Yes. Temps and sea rise that were projected to occur 20-30 years from now are now occurring here in Canada. We thought we had more time.
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