How will Hurricane Ida affect the U.S. economy? “The key channel for Ida to impact the broader economy is through energy prices,” one economist said.
WASHINGTON — The impact of Hurricane Ida on the U.S. economy should be modest as long as damage estimates do not rise sharply and refinery shutdowns are not prolonged, economists said Sunday.
“The key channel for Ida to impact the broader economy is through energy prices,” Zandi said. “We will have to see how much damaged occurred to production in the Gulf and how long that production will stay off line.” Brian Bethune, an economist at Boston College, also said a brief spike of up to 20 cents per gallon for gas was likely but cautioned that the price increase could be more severe, depending on how long the production shutdowns last and whether various regions have alternative supplies.
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