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The robust U.S. economy could be affected by climate change 

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The robust U.S. economy could be affected by climate change 

The United States is already being adversely affected by climate change. Its impact on the country’s economy and finances are substantial. Janet Yellen, Treasury Secretary, warned that it could cause more asset value declines in the future that could eventually affect the American financial system.

Yellen will speak to a new advisory committee of academics along with non-profits and private sector experts. According to her, the number of natural disasters that have cost the federal government billions more than in the 1980s by five-fold has been reported over the past five year. This is troubling because it allows for rising inflation.

Tuesday’s Treasury Secretary said that as climate change increases, rising temperatures and natural catastrophes could easily lead to a decrease in asset values. The financial system will be affected by this. A disorderly or delayed transition to a net zero economy could cause additional shocks for the U.S. financial sector.

California, Florida, Louisiana and other states are prone to severe storms and wildfires. Tornadoes are also more common in the…



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