Fed will begin climate-focused stress test in 2023

On Wednesday, Federal Reserve regulatory czar Michael Barr announced that next year, the central bank will launch a pilot exercise that assesses how climate change might affect the nation’s financial system. POLITICO’s Victoria Guida breaks down the Fed’s plan and how it fits into the Biden administration’s climate agenda. Josh Siegel is an energy reporter for POLITICO. Victoria Guida is an economics reporter covering the Federal Reserve for POLITICO. Nirmal Mulaikal is a POLITICO audio host-producer. Raghu Manavalan is a senior editor for POLITICO audio. Jenny Ament is the executive producer of POLITICO’s audio department.