US Treasury Secretary Janet Yellen attempted to allay fears by saying that the US banking system is "stabilizing" following the failures of SVB and Signature Bank.
Climate change may turn into a source of shocks to the financial system in the years to come, US Treasury Secretary Janet Yellen said on Tuesday. She warned that the risks are not hypothetical.
Climate change may trigger asset value losses in coming years that could cascade through the US financial system, according to US Treasury Secretary Janet Yellen.