Climate Politics
Fed’s Waller Says Climate Change Doesn't Pose Serious Financial Risk
- ‘There is no need to focus on one set of risks,’ he says
- Fed governor doesn’t discuss US economy or rate policy
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Federal Reserve Governor Christopher Waller said there’s no need for central bankers to pay special attention to risks to the financial system from climate change because there’s not an obvious danger to financial stability.
“Climate change is real, but I do not believe it poses a serious risk to the safety and soundness of large banks or the financial stability of the United States,” Waller said at a conference in Madrid. “Risks are risks. There is no need for us to focus on one set of risks in a way that crowds out our focus on others.”