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The Federal Reserve does not seek to set climate change policy for the United States and the issue, while of long-term economic concern, does not currently influence monetary policy, Fed chair Jerome Powell said ... The Fed has joined the Network for Greening the Financial System, an international group exploring ways to build climate risk into bank management, supervision and regulation. It has begun conducting more research on the implications of climate change for the economy... U.S. climate policy "is not a question for the Federal Reserve," Powell told the panel, but needed likely decades of effort and "bold national response" led by elected officials, not the appointed officials of the Fed.