The Trouble with Calculating Cold Weather's Bite on the Economy

The U.S. Treasury in Washington, D.C. on Feb. 13 Photograph by Andrew Harrer/Bloomberg

Yesterday the Federal Reserve’s latest survey of economic conditions–the “beige book”–was released. The main finding of the nearly 50-page document was that the brutal cold and relentless snow that has made this a particularly unpleasant winter in many parts of the U.S. have also been tough on economic growth.

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