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Pay Attention to the Central Bankers Behind the Curtain

Monetary policy could be a powerful tool to address climate change as well as the coronavirus.

People gather to buy fresh produce from a street vendor in the Central Business District (CBD) of Johannesburg.

People gather to buy fresh produce from a street vendor in the Central Business District (CBD) of Johannesburg.

Photographer: Waldo Swiegers/Bloomberg

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Compared to the noise lawmakers and officials have been making about the trillions of dollars they’ve pumped into their respective economies to recover from the shock of Covid-19, central bankers have gone about their work more quietly. But that doesn’t make the monetary response any less important—or less interesting to those who’d like to see the coronavirus response tackle climate goals, as well.