Fed officials are increasingly warning that climate change could damage the economy
AP Photo/Rick Rycroft
- Federal Reserve officials are signaling fresh concerns about the dangers that extreme weather poses to the economy and to the financial system.
- The US has been relatively reluctant to incorporate climate change into monetary policymaking,
- That hesitancy is potentially fueled by deeply partisan debates around the issue in Washington.
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As the effects of climate change grow increasingly evident across the world, Federal Reserve officials are signaling fresh concerns about the dangers that extreme weather poses to the economy and to the financial system.
"We're seeing a frequency and intensity of weather events…that they are starting to be more than tail events," Robert Kaplan, the president of the Federal Reserve Bank of Dallas, said at an American Economic Association conference in San Diego this weekend. "They're starting to affect economic outcomes."See the rest of the story at Business Insider
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