6 To fulfill our core responsibilities, it will be important for the Federal Reserve to study the implications of climate change for the economy and the financial system and to adapt our work accordingly. Congress has assigned the Federal Reserve specific responsibilities in monetary policy, financial stability, financial regulation and supervision, community and consumer affairs, and payments. Climate risks may touch each of these.
In France, I have occasionally been called the “Ayatollah of the Franc Fort” … SPIEGEL: … what has two meanings: Frankfurt and a strong euro …  BIS Review 68/2010  3  Trichet: …. because I advocate a strong currency policy. Inflation is destructive for societies and democracy. Inflation is a tax on the poor and the weak.