The “Woke” Fed

Source: Campaign For Liberty
by Ron Paul

“President Joe Biden has ordered the Financial Stability Oversight Council to prepare a report on how the financial system can mitigate the risks related to climate change. … Federal Reserve Chair Jerome Powell is no doubt pleased with Biden’s order. Powell has been pushing for the Fed to join other central banks in fighting climate change. Among the ways the Fed could try to mitigate the risks related to climate change is by using its regulatory authority to ‘encourage’ banks to lend to ‘green’ businesses and deny capital to ‘polluters.’ The Fed could also use ‘quantitative easing’ to give green industries an advantage over their non-green competitors. Another way the Fed could ‘fight climate change’ is by committing to monetizing all federal debt created by legislation implementing the Green New Deal. Climate change is not the only area where the Fed is embracing the agenda of the ‘woke.'” (06/01/21)