Jan 30, 2020 - Economy

The Fed eyes joining climate-focused coalition of central banks

Federal Reserve Chair Jerome Powell

Federal Reserve Chairman Jerome Powell. Photo: Samuel Corum/Getty Images

The Federal Reserve is likely to join the Network for Greening the Financial System, a coalition of central banks committed to fighting climate change, Bloomberg reports.

The big picture: The Fed, despite President Trump's dismissal of climate change, has been focusing on the topic more. Fed Chairman Jerome Powell said Wednesday that bank officials had already attended meetings of the coalition, which it had previously avoided joining.

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