[1/3] A woman passes by The Federal Reserve Bank of New York in New York City, U.S., March 13, 2023.
The New York Fed foray into the topic comes as the central bank has retreated from the climate issue after facing heat from some members of Congress.
Meanwhile, the central bank formally joined in late 2020 with other major central banks in efforts to shore up the financial system against climate-related disruptions.
Some in Congress have seen the Fed’s climate work as a sign of a politicized central bank.
That said, the Fed has not ruled out thinking about how climate disruptions affect the full measure of the economy.
Persons:
Brendan McDermid, there's, Jerome Powell, Loretta Mester, John Williams, ” Williams, Michael S, Andrea Ricci
Organizations:
Federal Reserve Bank of New, REUTERS, “, New York Fed, Fed, Cleveland Fed, Queens College, Thomson
Locations:
Federal Reserve Bank of New York, New York City, U.S, New York, New Jersey, Connecticut, Puerto Rico, Congress