{"id":1930547,"date":"2023-05-13T18:42:40","date_gmt":"2023-05-13T22:42:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-governor-climate-change-doesnt-pose-material-risk-to-u-s\/"},"modified":"2023-05-13T18:46:01","modified_gmt":"2023-05-13T22:46:01","slug":"federal-reserve-governor-climate-change-doesnt-pose-material-risk-to-u-s","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-governor-climate-change-doesnt-pose-material-risk-to-u-s\/","title":{"rendered":"Fed Governor: Climate Change Not a Risk to U.S."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffederal-reserve-governor-climate-change-doesnt-pose-material-risk-to-u-s%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1930547&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Federal Reserve Gov. Christopher Waller: Climate Change Not a Unique Risk to US Financial System<\/h2>\n<p>Federal Reserve Gov. Christopher Waller has stated that climate change does not pose a \u201csufficiently unique\u201d risk to the US financial system. Speaking at a conference in Spain, Waller said that he did not believe climate change posed a serious risk to the safety and soundness of large banks or the financial stability of the United States. He added that risks posed by climate change were not sufficiently unique or material to merit special treatment. Waller\u2019s comments were consistent with those made by Fed Chairman Jerome Powell in recent months, who said the US central bank is not going to be a climate policymaker.<\/p>\n<h3>Addressing Climate Change<\/h3>\n<p>Central bankers have to look into whether any change to the climate would have a \u201cnear-term\u201d impact that would cause large enough losses to the macroeconomy, Waller said. He noted that banks are already adept at hedging against weather-related losses, while more slow-moving weather patterns were locally\u2014but not systematically\u2014important. To address US financial stability, he added, policymakers must balance the broad set of risks they face and prioritize using evidence and analysis. Based on what he has seen so far, Waller believes that placing an outsized focus on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-admin-spawns-securities-and-environment-commission-to-force-climate-agenda-on-businesses\/\" title=\"Biden Admin Spawns \u201cSecurities and Environment Commission\u201d to Force Climate Agenda on Businesses\">climate-related risks<\/a> is not needed, and the Federal Reserve should focus on more near-term and material risks in keeping with its mandate.<\/p>\n<h3>Policy Agenda<\/h3>\n<p>There have been concerns that climate-related policies brought about at the local, state, and federal level will place undue economic burdens on ordinary consumers. At the same time, some scientists have expressed concern that so-called renewable sources of energy such as wind power may not be sufficient to meet power grid demands. This week, the federal Environmental Protection Agency proposed a rule that would require most <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/buttigieg-says-americans-should-buy-electric-cars-so-they-never-have-to-worry-about-gas-prices-again\/\" title=\"Buttigieg Says Americans Should Buy Electric Cars So They \u2018Never Have To Worry About Gas Prices Again\u2019\">fossil fuel power plants<\/a> to cut their emissions by 90 percent between 2035 and 2040 or be shut down. The rule, if approved, will likely be challenged by Republican-led states and the US Supreme Court.<\/p>\n<h3>Scientists\u2019 Declaration<\/h3>\n<p>In mid-2022, about 1,000 scientists and professionals issued a letter decrying the widespread alarmism over the climate, saying there is no <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-governor-climate-change-doesnt-pose-material-risk-to-u-s\/\" title=\"Fed Governor: Climate Change Not a Risk to U.S.\">climate-related emergency amid decades worth<\/a> of predictions claiming civilization will end as we know it due to the warming of the Earth\u2019s atmosphere. Those scientists suggested that such claims are exaggerated and used by bad actors to acquire more political power and influence. Meanwhile, \u201cpoliticians should dispassionately count the real costs as well as the imagined benefits of their policy measures,\u201d the declaration said.<\/p>\n<ul>\n<li>Climate science should be less political, while climate policies should be more scientific<\/li>\n<li>Scientists should <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/1100-scientists-and-professionals-declare-there-is-no-climate-emergency\/\" title=\"1,100 Scientists and Professionals Declare: \u2018There Is No Climate Emergency\u2019\">openly address uncertainties<\/a> and exaggerations in their predictions of global warming<\/li>\n<\/ul>\n<p>Reuters contributed to this report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Gov. Christopher Waller said that climate change does not present a \u201csufficiently unique\u201d risk to the U.S. financial system. Regarding climate change, or the theory that the Earth\u2019s temperatures are warming due to human activity, \u201cI do not believe it poses a serious risk to the safety and soundness of large banks or<\/p>\n","protected":false},"author":1,"featured_media":1930548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[5103,4321,7498,4173,7514,7238],"class_list":["post-1930547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-change","tag-climate","tag-fed","tag-governor","tag-risk","tag-u-s"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1930547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1930547"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1930547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1930548"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1930547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1930547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1930547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}