Author: Battleground State News Staff

In February 2021, Federal Reserve Chairman Jerome Powell told Congress, “We are not climate policymakers here who can decide the way climate change will be addressed by the United States. We’re a regulatory agency that regulates a part of the economy.” When Powell said that, less than a month into the Biden administration, inflation was 1.6%.

Just eight months later, in remarks on November 22, 2021, President Biden said Powell – then up for renomination and facing stiff opposition from congressional progressives – “made clear to me: A top priority will be to accelerate the Fed’s effort to address and mitigate the risks – the risk that climate change poses to our financial system and our economy.” At that time inflation was 6.8%, on its way up to a 40-year high of 9.1%.