EXCERPT:
BIDEN: “Jay and I have had a chance to discuss his views on priorities for the Federal Reserve in the years ahead. He’s made clear to me the top priority will be to accelerate the Fed’s effort to address and mitigate the risk that climate change poses to our financial system and our economy. Extreme weather has cost our economy over $600 billion over the last ten years. We have to make sure our financial system can withstand climate change and is prepared to transition to clean energy. The Fed must be a leader among central banks globally in addressing climate-related financial risks."