How does La Nina impact the economy? (13 min)
Weather events continue to capture the headlines, as Europe and southern states in the U.S. are suffering an unprecedented heat wave this month. The National Weather Service’s Climate Prediction Center recently estimated that there is a 66 percent chance that La Nina conditions will prevail in the Northern hemisphere until at least the end of 2022, which would mark the third straight year of this weather pattern. Nationwide economist Scott Murray shares more about these major weather events and their economic impact.
- How do major weather events impact the economy?
- How might La Nina influence commodity prices and inflation more broadly?
- How do you think the Fed could respond to these trends?