As part of its efforts to support financial markets, the Federal Reserve is buying bonds issued by oil-and-gas companies. Some critics say that is a mistake. Policy analysts pushing for action on climate say the central bank shouldn’t provide any form of support for companies directly involved in producing fossil fuels because climate change could hurt financial stability and economic activity in the long run. The Fed’s mandate is to foster stable prices and maximum job creation, and both of those could be affected in a world...

Source: Wall Street Journal July 20, 2020 09:48 UTC