Federal Reserve

By comparison, in 1990 the top 1% held just 17% of the nation's wealth—less than half of the middle class' 36%.

"Your record gives me grave concern," Sen. Elizabeth Warren told Jerome Powell. "Over and over, you have acted to make our banking system less safe."

"The Federal Reserve's role is not to surrender our planet to corporate polluters and shepherd our financial system to its destruction," said Rep. Rashida Tlaib, among the Democrats urging the Fed to end fossil fuel financing.

Economist Joseph Stiglitz said Fed Chair Jerome Powell's refusal to take climate risk seriously should disqualify him for another term.

"We need a leader at the helm that will take bold and decisive action to eliminate climate risk."

"Instead of using their power to cut off finance for fossil fuels, they are making themselves busy tinkering around the edges of the climate crisis."

"Not only does the Fed have legal authority to stop fossil fuel finance—it's their responsibility."

"If the Fed did not begin moving aggressively on Day One of the Biden administration (if not long before that), then the Fed is contributing to the climate crisis."