Finance

Central bank must prevent climate change

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US Federal Reserve Governor Lael Brainard attends a “Fed Listens” event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019.

Eric Baradat | AFP | Getty Images

Along with all of the other things it must consider, the Federal Reserve needs to take into account climate change when formulating monetary policy, Fed Governor Lael Brainard said Friday.

The issue could have impact on determining the proper level of interest rates and cause systemic financial damage in a way similar to what happened during the financial crisis, the central bank official said during a speech in San Francisco.

“Increasingly, it will be important for the Federal Reserve to take into account the…



Source cnbc.com

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