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How Harvey And Irma Will Slam The US Economy: A Complete Walk Thru From BofA

Last week, before the full devastation from Hurricane Harvey was unveiled, Goldman and JPM were the first banks to suggest that the storm's impact on US GDP would be modest: a slight decline in Q3 growth, offset by a similary modest rebound in Q4 and further as emergency funds "trickled down" through the economy. Now, with more clarity on just how destructive the storm has been, other banks are coming out and they are not nearly as confident that the damage from Harvey will be "modest" - in fact, according to a just released analysis from Bank of America, Harvey will result in at least a 0.
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