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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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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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.
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