Fed backs New Green Deal & this will cause bitcoin to soar The U.S. central bank published the Fed’s financial stability report, which usually discusses a variety of banking procedures but instead, the Fed highlighted climate change. “Federal Reserve supervisors expect banks to have systems in place that appropriately identify, measure, control, and monitor all of their material risks, which for many banks are likely to extend to climate risks,” the financial stability report stresses. The recently published financial stability report has made economists, media, and analysts suspect that the Fed will support the Democrats and Biden’s plan to usher in the New Green Deal. Moreover, it will allow the U.S. central bank to keep the money spigot on full blast, as the New Green Deal needs around $1.7 trillion according to the proposal, although realistically, the New Green Deal will require multiples of that amount. This will cause the dollar to plummet and Bitcoin to soar. The media assumes that President-elect Joe Biden will keep Fed Chairman Jerome Powell in his position after the ostensible administration transition. Just recently, the Fed Chairman also discussed the topic of climate change, and he talked about how it could be incorporated into the central bank’s procedures. “Incorporating climate change into our thinking about financial regulation is relatively new, as you know,” Powell said. “And we are very active in the early stages of this, getting up to speed, working with our central bank colleagues and other colleagues around the world to try to think about how this can be part of our framework.”