The San Francisco Federal Reserve bank hosted the first economic climate conference earlier this week in New York and San Francisco.
The list of topics included a “green interest rate” and whether a carbon tax works better than green energy(wind/solar) subsidies as a tool for combatting global warming. As everyone knows, the current administration is hellbent on denying that climate change even exists. So, even though the conference doesn’t address the science of climate change, acknowledging that it is playing a part in the global marketplace is essential to the conversation.
The President of San Francisco’s Federal Reserve bank, Mary C. Daly, said this in her speech on Friday.” The Federal Reserve’s job is to promote a healthy, stable economy. This requires us to consider current and future risks – whether we have a direct influence on them or not. Climate change is one of those risks.”
The conference was so well attended that they had to set up a webcast to accommodate everyone.
San Francisco Fed Chief Mary C. Daly’s speech: