I want to thank all of you for joining our research conference and the organizing committee for inviting me to share some thoughts on climate scenario analysis.1 Economic analysis suggests that climate change could have profound consequences for the level, trend growth, and variability of economic activity over time and across regions and sectors. Some of these effects could occur gradually, while others could occur relatively quickly in the presence of "tipping points." Policy, technology, and behavioral responses could similarly have material financial consequences. Against this backdrop, the Federal Reserve is ... (full story)