Hurricane Milton Causes Devastation in Florida

Hurricane Milton, one of the most damaging storms in Florida's history, has resulted in at least 10 fatalities and left over three million people without power. The economic losses are estimated between $160 billion and $180 billion, coming just weeks after Hurricane Helene, which caused greater damage. Milton made landfall with 120 mph winds, prompting tornadoes and flight cancellations, but is now weakening as it moves away from the U.S. Despite the destruction, many Floridians, including those in Fort Myers Beach, are relieved that the impact was not more severe. Experts suggest climate change is a driving factor behind the increasing strength of such storms. The Federal Reserve faces challenges in balancing inflation control with the economic downturn caused by these hurricanes.