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A Misguided Green Fed Mandate

A Misguided Green Fed Mandate
Jerome H. Powell, Chair of the Board of Governors of the Federal Reserve, prepares to leave at the end of a confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee in Washington, on Jan. 11, 2022. Graeme Jennings-Pool/Getty Images
Tim Collins
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Commentary

In August 2021, a group of lawmakers including Reps. Alexandria Ocasio-Cortez (D-N.Y.), Rashida Tlaib (D-Mich.), Ayanna Pressley (D-Mass.), Mondaire Jones (D-N.Y), and Chuy Garcia (D-Ill.), issued a public statement to President Biden, “As news of the possible reappointment of Federal Reserve Chair Jerome Powell circulates, we urge President Biden to reimagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice.”

Tim Collins
Tim Collins
Author
Tim Collins worked for years as a financial advisor before establishing his own hedge fund, one that would acquire shares in companies like Facebook, Twitter, and AirBnB in the private markets before they went public. He now co-authors Streetlight Confidential investment newsletter with Bob Byrne, and his writing and commentary has been featured on RealMoney and RealMoneyPro on TheStreet.com for over a decade.
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