Climate Risk and the Fed: Preparing for an Uncertain Certainty

Mary Daly

FRBSF Economic Letter, 2021, vol. 2021, issue 17, 08

Abstract: While the severity and scope of a changing climate remains unclear, the consensus is that it poses a significant risk to the global economy and financial system. As monetary policymakers, the Fed’s job is to navigate this uncertainty by anticipating the potential changes and understanding their implications.

Keywords: climate change; risk; uncertainty; weather; economic transition (search for similar items in EconPapers)
Date: 2021
Note: This FRBSF Economic Letter is adapted from remarks by President Mary C. Daly, Federal Reserve Bank of San Francisco, to the Peterson Institute for International Economics, June 22, 2021.
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