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How the Fed could go green faster Jul 07,2021 - Last updated at Jul 07,2021 BOSTON The US Federal Reserve (Fed) has made a number of climate-related announcements in recent months, joining the Network for Greening the Financial System in December and then establishing a new Supervision Climate Committee in February. Yet while these are important first steps, the Fed should do more to address climate change, which in turn can help it meet its mandate. Although President Joe Biden has made clear that climate considerations will influence all of his administration’s fiscal decision-making, this does not take the central bank off the hook. But the Fed, concerned about its independence, is wary about deploying the unconventional tools needed to bring monetary policymaking onto the same page.

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