End of Global Warming-And U.S. Recovery?
The cold snap could have significant economic consequences too. Just a few weeks ago, I told you about how the then relatively mild weather boosted the U.S. economy by reducing oil prices and stimulating outdoor activities normally supressed by the cold. Now after the cold snap, oil prices have recovered and outdoor activities have likely been significant supressed.
Given the relative strength in momentum of the recovery, it seems unlikely that the cold will produce a recession. But it remains a possibility and at any rate economic growth will certainly slow.