Fed’s Brainard: Climate Focus Does Not Undermine Employment Targets

The United States Federal Reserve Governor, Lael Brainard, said on Thursday that the central bank remains focused on achieving full employment.

This comes as the Fed is now more focused that ever before on addressing climate change as a challenge to the American and global economies, which raised some concerns about how that could affect jobs, especially in the fossil fuel industry.

“We also undertake the necessary investment to make sure that our economy transitions to a sustainable basis over the medium to long run.”

“The focus on investments in a sustainable economy that are pro-growth, that are pro-jobs, those are the kinds of priorities that square very well with our overall framework, which is to ensure the economy is at maximum employment in a sustainable way.”

Brainard noted that the financial sector needs to assess the risks of climate change.