Winter Storm Wreaks Havoc, Dems Vow to Block DHS Funding, More
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News when you want it with Bloomberg News Now. I'm Monica Ricks. The Northeast and New England are set to get slammed by snow today as a massive winter storm continues to sweep the country this weekend. Bloomberg meteorologist Craig Allen is tracking it.
The snow falls heavily with whiteout conditions at times, but a mix or change to sleet and freezing rain, that's likely, especially in cities and towns east of 95. which will hold down the accumulations the closer you are to the East Coast. It could get about as far north as I-80. But less snow means more sleet and ice, which can even be more treacherous and disruptive.
Parts of New York and New Jersey could get up to a foot of snow over the next few hours, but MTA Chief Jano Lieber says they're ready.
We have our own snow fighting equipment to supplement what the city's Department of Sanitation does with their 2,000 plows. and 4,000 workers who are working round the clock to make sure that the bus system's ready to go.
He says they ran extra subway service overnight to make sure the lines can handle heavy snow. Meantime, a power emergency has been declared in states like Texas, where a sudden surge in demand has caused an electricity shortage. Hundreds of thousands of people don't have power right now in several states across the South. Thousands of flights have been grounded, including at least 10,000 today alone, that have been scrapped preemptively nationwide as a precaution. And a lot of businesses will be closed today. Experts say when this is all said and done, this storm may cost as much as $24 billion in damages and economic losses. People braved freezing temperatures last night for more protests and vigils in Minneapolis following a second fatal shooting there by federal agents.
And now Senate Democrats are fighting back. Here's Bloomberg's Ed Kalecki.
Senate Democratic Leader Chuck Schumer vowed to block a massive funding package next week unless Republicans agree to strip funding for the Department of Homeland Security, dramatically increasing the risk for a partial U.S. government shutdown. Schumer's announcement came on the same day that a Border Patrol agent shot and killed an American intensive care unit nurse in Minnesota during protests over the immigration crackdown in that state. Democratic opposition to the funding package potentially affects not just Homeland Security, but also the Departments of Defense, Labor, Education, State, Treasury, and Health and Human Services. Ed Kalecki, Bloomberg Radio.
The commander of Iran's Revolutionary Guard is warning his forces are more ready than ever as U.S.
What impact is the winter storm having on the Northeast and New England?
warships head towards the Middle East. Tensions are still high between Iran and the U.S. following a crackdown on protests that started in Iran in December. Activists say thousands of people have been killed and even more arrested. Some European airlines have suspended flights to the region as a precaution. This week, we find out what's on a lot of people's minds and get new numbers on consumer confidence. Here's Bloomberg's Andrew O'Day.
Tuesday, we get the reading of January consumer confidence from the conference board. It is forecast to show a small increase from December's measure. That follows Friday's minor surprise in the University of Michigan's consumer sentiment reading, which showed a small uptick in the collective American mood amid declining worry over the price impact of tariffs. Andrew O'Day, Bloomberg Radio.
On Wednesday, we'll get a Fed decision on interest rates.
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