Thanksgiving travel set to break record
Business & Economy
Business & Economy
The Big Story
Thanksgiving travel to break record amid stormy forecasts
Transportation officials are expecting a new travel record this week as millions of Americans fly and drive for the holidays.
The Transportation Security Administration (TSA) expects to screen more than 5 million passengers between Tuesday and Wednesday alone, with almost 3 million more expected to fly out on Sunday.
But the predictions by TSA, which would surpass a previous high-water mark set over the summer, coincide with troubling weather forecasts that could mean gloom for some travelers.
Weather officials have been warning of severe thunderstorms and possible snow that could threaten travel in different parts of the country as the holiday season approaches.
According to the Federal Aviation Administration, the severe storms could affect flights in the South and the East Coast starting Tuesday.
At the same time, AAA predicts more than 55 million Americans are expected to travel at least 50 miles on the ground starting Wednesday, with Thanksgiving Eve expected to be the busiest day for road travel.
“Two main storm systems are expected to impact the Nation with rain, thunderstorms, and winter weather,” the National Weather Service warned on social media this week, urging travels to keep track of local forecasts before heading out.
Leading up to Turkey Day, the office said heavy rain and strong thunderstorms are predicted to “extend from the Lower Mississippi Valley to the Mid-Atlantic as a storm system progresses toward the East Coast.”
“A wintry mix is possible across New England and the Interior Northeast Tues.-Weds., with heavy snow possible across the higher elevations of New Hampshire and Maine,” it cautioned, while noting forecasts of “moderate to heavy snow” are also expected to hit the northern Rockies this week.
The Hill has more here.
Did someone forward you this newsletter? Subscribe here.
Key business and economic news with implications this week and beyond:
Changpeng Zhao, the founder of cryptocurrency exchange Binance, stepped down from his chief executive role on Tuesday, after pleading guilty to failing to prevent money laundering on his company’s platform.
The U.S. government dealt a massive blow to the world’s largest cryptocurrency exchange Binance as its founder, Changpeng Zhao, pleaded guilty to a felony charge Tuesday related to his failure to prevent money laundering on his platform.
The sale of previously owned homes fell to an annualized rate of 3.79 million in October, marking a 13-year low, according to data released by the National Association of Realtors (NAR) on Tuesday.
Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2% target, according to the minutes of their meeting released Tuesday.
Upcoming news themes and events we’re watching:
In Other News
Branch out with more stories from the day:
NEW YORK (AP) — Best Buy Co. on Tuesday posted stronger-than-expected profits for its fiscal third …
Good to Know
Business and economic news we’ve flagged from other outlets:
Binance and CEO Plead Guilty, Agree to Pay Billions in Fines (Bloomberg)
Month-long sale season may dilute the impact of Black Friday (CNN)
What Others are Reading
Top stories on The Hill right now:
A Georgia judge declined to revoke the bond of one of former President Trump’s co-defendants in his 2020 election subversion case Tuesday, allowing him to remain free on bond ahead of a future trial. Read more
GOP impeachment investigators on Tuesday subpoenaed a deputy to the special counsel investigating Hunter Biden, expanding their inquiry into claims from two IRS whistleblowers that she took actions that “deviated from standard investigative procedures.” Read more
What People Think
Opinion related to business and economic issues submitted to The Hill:
You’re all caught up. See you tomorrow!
Just In News | The Hill Read More