Jan 30, 2020

The Fed eyes joining climate-focused coalition of central banks

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.

Go deeper: Climate change’s surprise twist

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Federal Reserve leaves interest rates on hold

Jerome Powell. Photo: Sarah Silbiger/Xinhua via Getty

The Federal Reserve said on Wednesday that interest rates would remain between the target range of 1.5% and 1.75%.

Why it matters: Fed chair Jerome Powell said developments in the global economy since the last Fed meeting — namely threats posed by the coronavirus outbreak — have not changed the central bank's wait-and-see approach.

Go deeperArrowUpdated Jan 29, 2020

The widening partisan divide on climate change

Reproduced from Pew Research Center U.S. Politics and Policy; Chart: Axios Visuals

The persistent partisan divide on climate change is getting wider, per a Pew Research Center survey.

The big picture: Since 2015, Democrats have become increasingly convinced (now at 78%) that climate change should be a top federal priority — while that same view among Republicans has remained relatively flat (now at 21%)

Go deeper: Climate change's surprise twist

Climate change’s surprise twist

Illustration: Sarah Grillo/Axios

The economics, politics and science of climate change are converging and catapulting this problem from a joke among critics to a prominent concern.

Driving the news: Shifts across Washington, D.C., among corporate leaders and within financial institutions are creating a foundation that could produce big movement on this problem for the first time since, well, forever.

Go deeperArrowJan 27, 2020