“Focus any regulatory activities on maintaining bank capital adequacy. Elected officials must clamp down on the Fed’s incorporation of environmental, social, and governance factors into its mandate, including by amending its financial stability mandate.”
Citation: Project 2025, Section 4.4: Federal Reserve, Paul Winfree, page 772, third bulleted point
Context:
This is a thickly veiled argument for bank deregulation which eliminates the focus on climate-related economic risks. As the climate worsens, disasters like Hurrican Helene will occur more often, and these are enormously expensive to mitigate (although Project 2025 doesn’t care about that part – they proposed in Section 2.2 to leave disaster relief funding up to the states, which would lead to much higher state taxes, reduced response capabilities, and more.)
Full contextual analysis of Section 4.4: Federal Reserve here.
Section: Section 4.4: Federal Reserve