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financial system can withstand climate change and is prepared to transition to clean energy. the fed must be a leader among central banks globally in addressing climate related financial risks. he s underscored the importance of the fed taking a more proactive role in the months and years ahead and making sure that our financial regulations are staying ahead of emerging risks. be they from innovations, crypto currency, or the practice of less regulated, nonbank financial institutions. having served as vice president during the depths of the 2009 financial crisis, having worked with president obama to put in place a stronger financial rules of the road, i understand the stakes of our regulations falling asleep at the switch, regulators falling asleep at the switch. jay, along with the other members of the fed board that i will nominate, must ensure we never again expose our economy and american families to those
extreme weather has cost our economy over $600 billion over the last ten years. we have to make sure our financial system can withstand climate change and is prepared to transition to clean energy. the fed must be a leader among central banks globally in addressing climate related financial risk. he s also underscore the importance of the fed taking a more proactive role in the months and years ahead and making sure that our financial regulations are staying ahead of emerging risk be they from innovations and cryptocurrency or the practice of less regulated nonbank financial institutions. having served as vice president during the depths of the 2009 financial crisis, having worked with president obama to put in place a stronger financial rules of the road. i understand the stakes of regulations, regulators falling asleep at the switch. jay along with the other members of the federal board that i will nominate must ensure that we