Federal Reserve Isn’t Climate Policymaker, Central Bank Supervisor Says

Federal Reserve Isn’t Climate Policymaker, Central Bank Supervisor Says
The U.S. Federal Reserve building in Washington.
Andrew Moran
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The Federal Reserve isn’t a climate policymaker, despite the U.S. central bank’s supervisory work related to the financial risks of climate change, a top Fed official says.

Michael Gibson, the Fed’s director of supervision and regulation, reiterated Chair Jerome Powell’s remarks earlier this year that the Fed isn’t crafting climate policy. However, the central bank is working to better understand climate change risks that challenge the stability of the financial system.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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