Fed's Powell: Comments on sever weather risks
Enters the slippery political risks from climate change
Pres. Trump has called climate change a China hoax in the past, but that is not stopping Fed's Powell to talk to it.
- Increase severe weather poses some increased risk to expose institutions
- he believes severe weather is due to climate change
- Fed requires banks to have planned for severe weather risk
The Fed Chair did not dismiss the impact on the economy of climate change.