As if having to pay the highest price of gas since 2008 for the Independence Day weekend wasn't bad enough, millions of traveling east coasters will now have to deal with what may develop into a hurricane as well, and will certainly result in less than perfect weather conditions as the holiday weekend unrolls.
Presenting Tropical Storm Arthur. According to NBC, a hurricane watch was issued Wednesday for part of North Carolina as the first named tropical storm of the season gathered strength and threatened July Fourth celebrations along the East Coast. Negative impact to Q3 GDP? Still unknown.
The National Hurricane Center said Tropical Storm Arthur was slowly drifting north and becoming better organized, and forecasters said it could become a minor hurricane by Thursday. Overnight, a tropical storm watch was in effect for part of Florida's east coast. The Weather Channel senior meteorologist David Houtz told NBC News that Arthur will likely affect Florida the most on Wednesday, with gusty winds and showers.
And for those wondering how accurate the NOAA has been in its Hurricane forecasts, we present the following Bloomberg data. All we can say is: "better than the Fed"