ASSOCIATED PRESS • June 4, 2021
Federal Reserve Chairman Jerome Powell says the central bank can help assess risks to banks from climate change but that addressing the broader issue is up to private companies and elected officials, underlining that U.S. central bankers are not climate policymakers. Powell said at an online conference Friday that “there is no doubt that climate change poses profound challenges” for the global economy, banks and financial institutions. But, he added, meeting that challenge is up to the private sector and elected officials.