| | | Staggering losses ...
AccuWeather predicts Hurricane Harvey to be more costly than Katrina, Sandy combined
accuweather.com
September 01, 2017, 1:15:02 PM EDT
AccuWeather predicts Hurricane Harvey, which has wreaked havoc in Texas, to be the most costly weather disaster in United States history.Dr. Joel N. Myers, founder, president and chairman of AccuWeather said that "the disaster continues and the extent of human suffering will only increase as floodwaters and lack of electricity and basic services puts Houston into third world-like conditions for days or weeks to come."
Adding to the misery, AccuWeather RealFeel® Temperatures will climb between 100 and 105 degrees Fahrenheit the next few days, Myers explained. Standing water may lead to disease, hazardous mold and other concerns like outbreaks of mosquitoes.
Myers, sometimes called the “father of commercial meteorology,” predicted on Wednesday, Aug. 30 that "the total losses from this storm would reach $190 billion or one percent of the nation's gross domestic product (GDP), countering the expected growth in the economy for the rest of this year."
"This is the costliest and worst natural disaster in American history," Myers said.
This will impact every American and will counter GDP growth, while it will likely force the Federal Reserve to postpone any interest rate changes for the remainder of the year. The economic growth that had been predicted for the rest of this year will at least be cut in half as a result of the devastation from Hurricane Harvey, according to AccuWeather.The economic toll will be felt across the country for the rest of the year. Effects of the storm will ripple across the country, impacting everything from food and gas prices to shipping costs, jobs and more. |
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