Treasury Secretary Scott Bessent attends a press convention in Stockholm, Sweden, on July 29, 2025. Magnus Lejhall/TT Information Company/through Reuters
The U.S. Monetary Stability Oversight Council (FSOC), chaired by Treasury Secretary Scott Bessent, voted this week to disband two panels dedicated to assessing climate-related dangers to the monetary system, marking a pointy departure from the Biden-era push to combine local weather coverage into monetary regulation.
At its Sept. 10 assembly, the FSOC rescinded the charters of the Local weather-related Monetary Threat Committee and its exterior advisory physique, the Local weather-related Monetary Threat Advisory Committee (CFRAC). The choice, accepted in open session, successfully ends a two-year experiment in embedding climate-related dangers into the council’s systemic threat framework.
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