Accuweather predicts the economic cost could be as high as $16 billion. Plus, new home construction and the upcoming Jackson Hole Symposium.
Commerce department data shows that new home construction increased in July. But other indicators further up the housing chain show signs of a slowdown to come.
In 2022, Powell warned of painful moves to get inflation under control.
There’s not only job and wage losses, but also crops, infrastructure damage, small business losses and more.