Senator Sheldon Whitehouse delivered a stark warning during a Senate Finance Committee hearing, arguing that climate change is creating a dangerous financial chain reaction that could impact insurance markets, mortgages, property values and the broader economy. Citing warnings from Federal Reserve Chair Jerome Powell, major financial institutions and economists, Whitehouse highlighted concerns that climate risk is becoming a systemic threat similar to the conditions that preceded the 2008 financial crisis. He pointed to Florida as a key example of growing stress in insurance and housing markets and referenced forecasts of a potential $25 trillion impact on global real estate. Whitehouse urged Treasury Department nominees to remain vigilant and "ask the right questions and pay attention" to the risks emerging across the country.

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