In other news, Trump's top economic adviser Larry Kudlow says he thinks Fed Chairman Jerome Powell could possibly become a good chairman. Unfortunately for him, Kudlow will never be a good anything.
Meanwhile, Former White House Counsel Greg Craig has been indicted for operating as an unregistered foreign agent for the government of Ukraine. It's like they grow on trees.
Finally, researchers at the Urban Institute say natural disasters are contributing to income inequality because wealthy families can recover but others aren't always so fortunate.
“The combination of devastating natural disasters with financially fragile families can be a recipe for not only short-term financial hardship, but also long-term declines in financial health,” the report’s authors wrote.
“The overall pattern of results also broadly suggests that disasters do more than harm residents; they also widen existing inequalities,” it added. [...]
While the financial effects of a natural disaster do cut across all income brackets, it’s the people who are already struggling before a catastrophe that suffer the worst financial effects because of it.
For instance, people who had poor credit before a disaster will experience more significant declines as a result. The average credit score among those with initially poor credit dropped by 29 points four years after a medium-sized disaster. Comparatively, the average score for people with initially good credit only declined by 8 points in that time.
I look at this as another way climate change is already affecting our lives and the economy.