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World

Brainard: Fed wants maximum employment, growth that is sustainable

  • "We will be very focused on trying to understand how climate related risks but also the potential transition pathways might effect our economic growth over the medium to long term," Brainard said.
  • The focus on investments in a sustainable economy that are pro-growth, that are pro-jobs, those are the kinds of priorities that square very well with our overall framework.
Published February 18, 2021

WASHINGTON: The Federal Reserve's emerging focus on climate change won't lessen its focus on achieving maximum employment, Fed Gov. Lael Brainard said in response to questions about whether the transition away from carbon fuels will kill jobs.

"We will be very focused on trying to understand how climate related risks but also the potential transition pathways might effect our economic growth over the medium to long term," Brainard said.

"The focus on investments in a sustainable economy that are pro-growth, that are pro-jobs, those are the kinds of priorities that square very well with our overall framework, which is to ensure the economy is at maximum employment in a sustainable way."

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