Opening Remarks
· Jerome H Powell, Chair of the Federal Reserve (United States)
Summary written by Dark Majestic in its own words · topics: inflation and price stability, climate, energy and nature
JH · Jerome H Powell Wiki · Federal Reserve WikiOpening RemarksContextOpening remarks by Jerome Powell at the Business, Government, and Society Forum of the Stanford Graduate School of Business.
Why it mattersPowell rejects a broader climate role for the Fed while keeping banks responsible for material risks.
Problems raised- Inflation is still above 2%.
- Climate risks affect regulated institutions.
- Pressure may grow to expand the Fed's role.
Solutions proposed- Keep policy on course to 2%.
- Expect banks to manage material risks, including climate.
- Protect the Fed's independence and narrow mandate.
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