Bummer: Fed Reserves Pulls Out Of Climate (scam) Group
Trump effect in full view
Federal Reserve withdraws from global regulatory climate change group
The U.S. Federal Reserve announced on Friday it had withdrawn from a global body of central banks and regulators devoted to exploring ways to police climate risk in the financial system.
In a statement, the Fed said it was exiting the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) because its increasingly broadened scope had fallen outside the Fed’s statutory mandate.
The central bank joined the group in 2020. The exit comes three days before President-elect Donald Trump, who is critical of efforts by governments to prescribe climate change policies, is set to take office.
The NGFS, formed in 2017, is charged with helping central banks and bank supervisors with integrating risks stemming from climate change into their work steering monetary policy and policing the financial system. A spokesperson for the group did not immediately respond to a request for comment.
Well, that’s a real shame. The Fed won’t be basing policy off a scam, and, instead looking at proper financial metrics.
The post Bummer: Fed Reserves Pulls Out Of Climate (scam) Group appeared first on Pirate’s Cove.
Source: https://www.thepiratescove.us/2025/01/20/bummer-fed-reserves-pulls-out-of-climate-scam-group/
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