Financial stability and the supervision of financial institutions are likely the most relevant topics for central banks in relation to climate change, United States Federal Reserve Chair Jerome Powell said at a press conference on Wednesday.

He went on to comment that achieving maximum unemployment and stable prices is less of a concern for the Fed in relation to climate.

Asked about green monetary policy and the US' participation in the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), Powell noted it is important for central banks to share best practices on climate change and finance since it is still a topic that is being researched. However, he noted that elected officials will always be the ones to determine climate policy and promised the Fed would remain "transparent" and "careful" on climate.