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The Fed’s Jay Powell Is Trying to Have It Both Ways on Climate Change

The Fed’s Jay Powell Is Trying to Have It Both Ways on Climate Change
Federal Reserve Board Chairman Jerome Powell looks on during a press conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Building in Washington on Dec. 14, 2022. Evelyn Hockstein/Reuters
Rupert Darwall
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Commentary
Fed-speak, Alan Greenspan once explained, was about practicing the art of constructive ambiguity. Testifying to Congress as Federal Reserve chairman, Greenspan would resolve a sentence in a deliberately obscure way that made it incomprehensible, “but nobody was quite sure I wasn’t saying something profound when I wasn’t.”
Rupert Darwall
Rupert Darwall
Author
Rupert Darwall is a senior fellow of the RealClear Foundation and author of the books “The Age of Global Warming: A History,” “Green Tyranny: Exposing the Totalitarian Roots of the Climate Industrial Complex,” and “Going Through the Motions: The Industrial Strategy Green Paper.” Darwall also authored the reports “The Climate Noose: Business, Net Zero, and the IPCC’s Anti-Capitalism,” “Capitalism, Socialism and ESG,” “Climate-Risk Disclosure: A Flimsy Pretext for a Green Power Grab,” “The Anti-Development Bank: The World Bank’s Regressive Energy Policies,” and “The Folly of Climate Leadership.”
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