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Rising Wildfire Risk for the 12th District Economy
The growing risk from natural disasters is a key economic effect of climate change. Severe wildfires are a leading example, and they are particularly important for the western states that make up the 12th Federal Reserve District. Analyzing data on wildfire hazard and economic activity confirms that these states are substantially more exposed to wildfire risk than the rest of the country. This gap in regional wildfire risk is likely to grow over time as climate change continues.