Yellen’s U.S. Treasury is going to create a “Climate Czar” position

At her confirmation hearing, Janet Yellen, the Biden administration’s Secretary of the Treasury, said, “I think we need to seriously look at assessing the risk to the financial system from climate change.” Now, she is making a move in that direction.

The Wall Street Journal reports that Yellen is looking to create a new position in the U.S. Treasury that is being referred to as the “Climate Czar.” 

The job description

The Climate Czar, according to the Journal, would be tasked with reviewing “financial stability risks and tax policy incentives related to climate change.”

The purpose would be to protect against severe weather events, caused by climate change, which Yellen believes could lead to financial problems by damaging assets that are used as collateral in bank loans.

This all, of course, fits in line with President Joe Biden’s climate change agenda. We have already seen some aspects of that agenda with Biden reentering America into the Paris Climate Agreement and with Biden suspending new oil and gas leases on federal landed.

The leading candidate

If you were thinking about applying for the Climate Czar position, it appears that you are probably out of luck.

The Journal reports that Yellen is already considering Sarah Bloom Raskin for the spot. If the name sounds familiar that is because Sarah Raskin is married to Rep. Jamie Raskin (D-MD) who is one of the House impeachment managers in the current Senate impeachment trial against former President Donald Trump.

According to the Journal, Sarah Raskin was a part of the Obama administration, as deputy Treasury secretary. She also has previously worked alongside Yellen at the Federal Reserve when Yellen was the chair.

The danger

Republicans are already raising the caution flag regarding Yellen’s Climate Czar idea.

According to Breitbart, “One danger cited by conservatives is that the [Climate Czar] position could be used to pressure banks out of providing financing to companies disliked by environmental activists, including fossil fuel companies.”

Recent events

Yellen has also been in the news recently after she received over $800,000 in speaking fees from Citadel, a hedge fund that was involved in the whole GameStop scandal.

The White House denied any wrongdoing on Yellen’s part.

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11 Responses

  1. A czar!!! What a waste of time. Didn’t they know the Earth has her own cycles? What caused the mini ice age in the medevil period? I don’t think it was cars. Are we to be subjected to these people again?

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  3. Here we go again. Putting into office all the Obama has-beens. Somebody
    do something, PLEASE! Get these people out of office!!

  4. Yelling let fraudsters steal 1 billion tax payer dollars because she cant do her job take the 800 thousand away fro her

  5. Another stupid reason to waist our tax payers money! The weather has been here for many centuries had it’s good & bad days, even the weather people with all their equipment & charts can’t predict the weather 100% correct. Don’t need someone we have to pay big $$$$$ to CZAR, how stupid!

  6. We had a previous eight years of this non-dynamic duo from 2008-2016. Very little excitement for a repeat of the same re-tread .

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