Super El Niño threatens U.S. households and election-season economics
A record-strong El Niño is intensifying economic pressures on American families just weeks before the midterm elections, raising concerns over fuel, housing and food costs.
The ongoing “super” El Niño, one of the strongest on record, is expected to exacerbate the economic strain on U.S. households ahead of the upcoming midterm elections. Global forecasts warn of hundreds of thousands of heat-related fatalities and higher commodity prices from Southeast Asia and West Africa. Domestically, California, Texas, the Southeast and other southern states could see costly flooding and mudslides, with potential damages of $2-3 billion in California alone.
While some studies suggest a modest boost to U.S. GDP after El Niño events, most experts warn that the weather’s impact on fuel prices will be secondary to ongoing Middle-East conflicts and broader inflation pressures. Consumer confidence has already slipped to its lowest level since 2014, reflecting worries about rising energy and living costs.
