All of this is screwy. Isn't the Fed supposed to be independent of the US government? I don't get why the government appoints the officials then. Sounds a bit like a conflict maybe? 🙃

Also, if anything, the Fed contributes to climate change by encouraging exploitation and over-consumption. They've got it all backwards.

rheedi0

bitcoin

Biden to nominate Jerome Powell for second term as Fed chair, signaling continuity amid heavy economic head winds

Biden: 

> Together, they also share my deep belief that urgent action is needed to address the economic risks posed by climate change, and stay ahead of emerging risks in our financial system.

What does the Fed have to do with climate change (other than inflaming the economy with consumerism)? Weird.

> [Brainard] is also credited with helping push the central bank toward its recently revised monetary policy goal, which allows inflation to go temporarily above the Fed’s target if that means more people can join the workforce.

Inflation is problem so we reward a person who helped cause it.