Trump is taking his “case” against Fed Governor Lisa Cook to the Supreme Court. It’s an obvious power grab and an illegal attempt to bring the Fed under the president’s control. Its also a recipe for higher prices, higher interest rates, and even more deregulation. www.citizen.org/news/trumps-...

Trump’s Attempt to Fire the Fed’s Lisa Cook Will Raise Costs and Increase Economic Hardship for Working Americans - Public Citizen

The attempted firing of Governor Cook ratchets up President Trump’s months-long assault on Federal Reserve independence...

citizen.org

The Federal Reserve has once again left climate change off the agenda at Jackson Hole, ignoring the impacts of climate change on this year's theme: Labor Markets in Transition. www.citizen.org/news/reporte...

Reporters Note: The Federal Reserve’s climate change neglect continues at Jackson Hole - Public Citizen

Climate change will have destabilizing effects on insurance and housing markets, state and local governments, and contribute to a variety of adverse economic outcomes,

citizen.org

We are losing to China in a competition for the future. Instead of producing energy smarter, the U.S. is defunding cleaner, safer, and cheaper energy. So the way to make America great is to fall behind??? Make it make sense.

The Fed should address climate change in proportion to the impacts it will have on the economy, financial system, and banks under its supervision. But backtracking on climate initiatives post-election reveals it is instead political pressure driving Fed decisions. www.citizen.org/news/the-fed...

The Federal Reserve’s Approach to Climate Is a Stain on Its Independence - Public Citizen

Since the beginning of the second Trump administration, the Federal Reserve has abruptly changed course on its approach to measuring…

citizen.org

NEW: "Mapping the Home Insurance Crisis" contains a series of interactive maps and tables to help people make sense of the climate change-fueled home insurance crisis. A collaboration with @publiccitizen.bsky.social. 🧵 ⬇️

Mapping the Home Insurance Crisis | Revolving Door Project

A series of interactive maps and tables to help people make sense of the climate change-fueled home insurance crisis.

therevolvingdoorproject.org

With a $4.5 trillion fight over tax cuts looming, the oil and gas industry wants to protect billions of dollars in tax benefits it enjoys ... and get new ones, too. Great @insideclimatenews.org piece featuring @foeus.bsky.social @publiccitizen.bsky.social insideclimatenews.org/news/2403202...

Congress Is Searching for Trillions of Dollars in Cuts. Will the Oil Industry’s Tax Breaks Skate By? - Inside Climate News

With a $4.5 trillion fight over tax cuts looming, the oil and gas industry wants to protect billions of dollars in tax benefits it enjoys and get new ones, too.

insideclimatenews.org

We don't need Trump/Musk recklessly hacking away at the FDIC--the agency responsible for keeping Americans' bank deposits safe for nearly a century. www.citizen.org/news/the-tru...

The Trump Administration is Targeting the FDIC, Putting Americans’ Financial Wellbeing at Risk - Public Citizen

President Trump’s twofold attack on the FDIC provides a new channel for President Trump and Elon Musk to enrich their friends on Wall Street.,

citizen.org

🌪️ Climate disasters are hitting insurance and housing markets. In the first #FedLit issue, @karlsson-kris.bsky.social & Sarah Bloom Raskin explore how fragile insurers and mortgage delinquencies are tied to climate risk—and why the Fed must act. fedlit.substack.com/p/issue-1-cl...

Issue 1: Climate Disaster → Insurer Fragility → Mortgage Delinquency

“When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets”

fedlit.substack.com

Powell has been negligent on addressing climate-related financial risk for some time now. With Trump looming, Powell is ignoring risks and leading the Fed into further retreat. www.citizen.org/news/from-wi...

From Wildfires to Wall Street, Powell’s Retreat on Climate Change Puts Economy at Risk

President Trump has no plans to address climate risks other than to bully federal agencies and private institutions into ignoring them, but this reckless approach does not preclude action by the Feder...

citizen.org

"Powell predicts a time when mortgages will be impossible to get in parts of US" finance.yahoo.com/news/powell-...

begging the question, what will Powell do about that?

Michael Derby@michaelsderby.bsky.social · 2y ago

Fed Powell climate observation: "If you fast forward 10 or 15 years, they're going to be regions of the country where you can't get a mortgage, there won't be ATMs. There won't, you know, the banks won't have branches, things like that. That's, that's a possibility coming up down the road."

Under the Biden Admin, climate change was an "emerging threat to financial stability," now I guess...its not?? Always nice to see Jay Powell's steel spine in action.

Bloomberg News@bloomberg.com · 2y ago

The Federal Reserve announced Friday it had withdrawn from a global coalition of central banks launched in 2017 to study climate risk

Not a Barr-specific dis but Republicans have been so successful at dictating the boundaries of Fed policymaking because they understand the Fed’s total aversion to engaging in political fights...and are comfortable bringing the fights from which the Fed must flee. www.ft.com/content/2207...

Michael Barr to step down as Fed’s top Wall Street regulator

Federal Reserve’s vice-chair for supervision will leave his role in February but stay on as Fed governor

ft.com

Banks only want two things: the ability to take on as much leverage as they want and a permanent safety net to save them when they do. The Trump Administration is great cover for banks to get exactly what they want. www.ft.com/content/56de...

US banking lobby sues Federal Reserve over stress test framework

Announcement comes a day after central bank unveiled proposed changes to annual examinations

ft.com

Kamala Harris treated climate change as an issue to be avoided. But climate is one of Dems' best opportunities to tell stories that, like Trump's, have clear villains and center the way elites (like Big Oil CEOs) are hurting working class people. That's why it's time for climate populism.

The Answer to Democrats’ Class Problem Is Staring Them in the Face

The climate crisis offers one of the strongest fields imaginable for proving fealty to the working class against rapacious elites.

newrepublic.com

I don’t think we can overstate how much Trump believes a good economy is measured first and foremost by asset prices going up. Keeping Powell (+ the tailwinds of falling inflation and falling interest rates) will make Wall Street happy. www.politico.com/news/magazin...

The Real Reason Trump Won’t Try To Fire Jay Powell

Why is the Fed chair in a position to brush off Trump’s pressure? Because Wall Street has his back.

politico.com