You think we ought to spend money Senator Kennedy Grills Witness Testifying About Climate Change
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In a Senate hearing this week, Senator Merkley and Senator Kennedy engaged in a discussion with Mr. Thomas G. Doe, President And Founder of Municipal Market Analytics regarding the potential impact of climate change on municipal bonds.
Senator Kennedy sought clarification on Mr. Doe’s assertion that climate change could lead to municipal bond defaults. Mr. Doe clarified that while he did not anticipate defaults, municipal bonds could face increased pressure due to heightened budgetary concerns. When asked if these bonds could withstand such pressure, he responded positively, stating, “I think so.”
The discussion then pivoted to the potential rise in interest rates. Mr. Doe expressed concern that interest rates might increase, particularly if state and local governments fail to address climate-related issues adequately. He emphasized the importance of addressing vulnerabilities in infrastructure to mitigate these challenges.
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