Powell Says Federal Reserve Will Not be a “Climate Policymaker”

Last week Federal Reserve Chairman Jerome Powell said the Fed will "stick to its knitting" and will NOT wander off the trail into political issues like man-made global warming (i.e. climate change). The purpose and focus of the Federal Reserve is to control inflation via interest rates, thereby strengthening the economy and creating jobs. Powell will not allow the Fed to get caught up in global warming policymaking by forcing banks to require the companies to which they make loans to bow down before the ESG gods. Frankly, we're surprised and delighted at Powell's steel backbone on this issue.

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