Powell blasts environmental concerns as threats to Federal Reserve's independence, writes TianatheFirst.
Although the climate control craze has taken over the rest of the financial establishment, the Federal Reserve has not yet fallen. First, Republicans tanked President Joe Biden's nomination of Sarah Bloom Raskin to become the vice chairwoman of supervision to the Fed based on her rejection of the central bank's dual mandate.
"Without explicit congressional legislation, it would be inappropriate for us to use our monetary policy or supervisory tools to promote a greener economy or to achieve other climate-based goals. We are not, and will not be, a climate policymaker," he said at a forum hosted by the Swedish central bank.
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