Federal Reserve Chair Jerome Powell told lawmakers during a congressional hearing that the U.S. central bank is not a climate policymaker, reiterating comments about the Fed’s role in the environment.
Powell delivered his semi-annual Monetary Policy Report to the House Financial Services Committee on Tuesday, one day after appearing before the Senate Banking Committee.
The head of the central bank repeated the same expectations about monetary policy—interest rates will need to go higher than policymakers first thought—and noted that restoring price stability is paramount.
Several House Republicans used this opportunity to address the Fed’s potential role in climate change policymaking….