1 2  -2Macroprudential and Microprudential Approaches It is increasingly clear that climate change could have important implications for the Federal Reserve in carrying out its responsibilities assigned by the Congress. 5 Given the implications of climate change for both individual financial institutions and the financial sector as a whole, we need a framework that incorporates both microprudential and macroprudential considerations.
Your corporations are the engines of this economy, and our economy needs a paradigm shift. I have noted that a few of our corporations have tentatively started venturing into foreign markets. The United Arab Emirates has been a particularly favored destination. I’ve seen many of our brands there, particularly from the textile industry.