WASHINGTON, Jan 27 ― Just a week into the administration of US President Joe Biden, the Federal Reserve opened yesterday its first policy meeting of the year with an eye on the trajectory of the US recovery. As the world's largest economy endures the world's worst coronavirus outbreak and the.
There is a high risk of a resurgence in COVID-19 infections derailing the world economy this year, according to a firm majority of economists in a Reuters poll, who forecast global GDP would reach pre-pandemic levels within two years.
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WASHINGTON, Jan 25 (Reuters) - The U.S. Federal Reserve is tapping a senior official to lead a new team focused specifically on financial risks posed by climate change, the central bank announced Monday.
Kevin Stiroh, who previously led bank supervision at the New York Fed, will lead the newly-formed “Supervision Climate Committee,” which gathers senior Fed officials to study what climate change could mean for banks and financial markets.
The move is the latest indication that the Fed is honing in on climate change as an area to closely monitor for potential risks to the financial system. In December, the Fed announced it had joined an international central bank group devoted to climate change. The central bank said in November for the first time that climate change could pose financial stability risks.
German Finance Minister Olaf Scholz on Tuesday welcomed the U.S. Senate confirmation of Janet Yellen as first woman Treasury secretary, voicing hope that she could bring progress in reaching an international agreement on digital taxation.
Read more about Gripped by greed, emerging markets turn to the US Fed for next spur on Business Standard. Bloomberg s Fear-Greed indicator for the MSCI developing-nation stock gauge climbed to its highest in almost a decade, a sign that gains may have been excessive