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Commentary by Steven Lofchie

Senator Elizabeth Warren (D-MA) asked Treasury Secretary Janet L. Yellen, in her role as Chair of the Financial Stability Oversight Council, to address risks to U.S. financial stability caused by the Federal Reserve Board's "rapid increase" in interest rates.

Before the House Subcommittee on Financial Institutions and Monetary Policy, regulators and state officials testified on efforts to address climate-related financial risk.