John,
During the COVID-19 pandemic, the Federal Reserve — the United States’ central public bank — bankrolled fossil fuel companies to the tune of billions of dollars. That was not public relief.
We need a central bank that supports Black, Indigenous, and POC communities fighting on the frontlines of COVID-19, racial and economic injustice, and climate destruction. Instead, the Federal Reserve is neglecting to regulate the banks financing oil, gas, and coal expansion projects, actively funding the climate crisis.
That’s why we’re joining our partners to demand that President Biden appoint a strong climate leader as Federal Reserve Chair who will implement policies and rules at the scale needed to address the climate emergency we’re facing.
We demand public money for public good. Add your name on our petition demanding Joe Biden nominate a climate leader as the Federal Reserve Chair.
We need to make sure the Federal Reserve prioritizes the biggest existential and economic risk our country is currency facing: the climate crisis.
Under the current Federal Reserve Chair Jerome Powell, the Federal Reserve used emergency funds to pump money into fossil fuel companies during a climate emergency.1
It’s time the Federal Reserve used its powerful tools to create a just and sustainable future.Powell’s term as Chair of the Federal Reserve Board ends in February and reappointment or nomination of someone else will be solidified by January 2022. Help us make sure Biden replaces Powell with a leader who will take the climate crisis seriously.
Record-breaking weather and climate disaster events are a frightening new normal. Vast and persistent wildfires, noxious air quality, slow-burn drought, biblical floods; we are all too familiar with the “new normal.”
The solution is clear: fossil fuels are an existential risk to our climate, communities, and economy. The Federal Reserve must act on its key role in tackling the climate crisis. It’s up to ordinary people like us to make sure our central bank serves its purpose, and that starts with replacing Jerome Powell as the Chair of the Federal Reserve with a true climate champion.
In solidarity,
Brett Fleishman
Director of Fossil Finance Campaigns
1 - The Hill
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PO Box 843004, Boston, MA 02284-3004
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350.org is a global movement that fights for a just and equitable world by stopping the fossil fuel industry from continuing to destroy our climate.