Obviously being done in preparation for an audit or Fed Chair Jerome Powell hoping to keep his job.

The Federal Reserve said on Friday that it had withdrawn from a network of global financial regulators focused on climate change risks just days before President-elect Donald J. Trump returns to power.

The central bank formally joined the Network of Central Banks and Supervisors for Greening the Financial System in December 2020, shortly after President Biden was elected. Democrats praised that decision, arguing that regulators needed to make sure financial institutions were adequately managing the risk they faced from extreme weather events.

Republican lawmakers, however, immediately blasted the Fed for joining the network, saying the central bank was overstepping its congressional mandate, which requires it to keep inflation stable and the job market strong. They expressed concern that the Fed, which oversees the nation’s biggest banks, might try to discourage financial institutions from lending to oil, gas and coal producers or other fossil fuel-intensive companies.

This action comes on the heels of six major U.S. banks and BlackRock recently backing away from the U.N.-backed Net Zero Banking Alliance. While the left is clearly decrying the Fed’s leaving as a political move, but you notice wasn’t political to join this financial cartel?

Ironically enough, two years ago Fed Chairman Jerome Powell even assured the public that his agency was not interested in being a climate policymaker too.

Not only is this due to Trump’s election, but also due to the high likelihood of the Republican-controlled Congress conducting anti-trust investigations, including the legal efforts of Texas Attorney General Ken Paxton who has been a gladiator in litigating against ESG and other climate-related schemes. In light of this, Jerome Powell may want to empty out his desk since it is unlikely he will be Fed Chairman much longer.

PHOTO CREDIT: By Federal Reserve – ec_8, Public Domain, https://commons.wikimedia.org/w/index.php?curid=50927860