Datastream
The Accelerating Frequency of Extreme Weather
The Briefing
- We’re already seeing the impact of climate change—today, droughts, heatwaves, and extreme rainstorms are 2x more frequent than they were a century ago
- In less than a decade, Earth’s climate is expected to warm another 0.5°C
- If this happens, heatwaves will be 4.1x more frequent than they were in the 1850-1900s
The Accelerating Frequency of Extreme Weather
The world is already witnessing the effects of climate change.
A few months ago, the western U.S. experienced one of the worst droughts it’s seen in the last 20 years. At the same time, southern Europe roasted in an extreme heatwave, with temperatures reaching 45°C in some parts.
But things are only expected to get worse in the near future. Here’s a look at how much extreme climate events have changed over the last 200 years, and what’s to come if global temperatures keep rising.
A Century of Warming
The global surface temperature has increased by about 1°C since the 1850s. And according to the IPCC, this warming has been indisputably caused by human influence.
As the global temperatures have risen, the frequency of extreme weather events have increased along with it. Heatwaves, droughts and extreme rainstorms used to happen once in a decade on average, but now:
- Heatwaves are 2.8x more frequent
- Droughts are 1.7x more frequent
- Extreme rainstorms are 1.3x more frequent
By 2030, the global surface temperature is expected to rise 1.5°C above the Earth’s baseline temperature, which means that:
- Heatwaves would be 4.1x more frequent
- Droughts would be 2x more frequent
- Extreme rainstorms would be 1.5x more frequent
The Ripple Effects of Extreme Weather
Extreme weather events have far-reaching impacts on communities, especially when they cause critical system failures.
Mass infrastructure breakdowns during Hurricane Ida this year caused widespread power outages in the state of Louisiana that lasted for several days. In 2020, wildfires in Syria devastated hundreds of villages and injured dozens of civilians with skin burns and breathing complications.
As extreme weather events continue to increase in frequency, and communities become increasingly more at risk, sound infrastructure is becoming more important than ever.
Where does this data come from?
Source: IPCC
Details: The data used in this graphic is from the IPCC’s Sixth Assessment Report, which provides a high-level summary of the state of the climate, how it’s changing, and the role of human influence.
Economy
Charted: Public Trust in the Federal Reserve
Public trust in the Federal Reserve chair has hit its lowest point in 20 years. Get the details in this infographic.
The Briefing
- Gallup conducts an annual poll to gauge the U.S. public’s trust in the Federal Reserve
- After rising during the COVID-19 pandemic, public trust has fallen to a 20-year low
Charted: Public Trust in the Federal Reserve
Each year, Gallup conducts a survey of American adults on various economic topics, including the country’s central bank, the Federal Reserve.
More specifically, respondents are asked how much confidence they have in the current Fed chairman to do or recommend the right thing for the U.S. economy. We’ve visualized these results from 2001 to 2023 to see how confidence levels have changed over time.
Methodology and Results
The data used in this infographic is also listed in the table below. Percentages reflect the share of respondents that have either a “great deal” or “fair amount” of confidence.
| Year | Fed chair | % Great deal or Fair amount |
|---|---|---|
| 2023 | Jerome Powell | 36% |
| 2022 | Jerome Powell | 43% |
| 2021 | Jerome Powell | 55% |
| 2020 | Jerome Powell | 58% |
| 2019 | Jerome Powell | 50% |
| 2018 | Jerome Powell | 45% |
| 2017 | Janet Yellen | 45% |
| 2016 | Janet Yellen | 38% |
| 2015 | Janet Yellen | 42% |
| 2014 | Janet Yellen | 37% |
| 2013 | Ben Bernanke | 42% |
| 2012 | Ben Bernanke | 39% |
| 2011 | Ben Bernanke | 41% |
| 2010 | Ben Bernanke | 44% |
| 2009 | Ben Bernanke | 49% |
| 2008 | Ben Bernanke | 47% |
| 2007 | Ben Bernanke | 50% |
| 2006 | Ben Bernanke | 41% |
| 2005 | Alan Greenspan | 56% |
| 2004 | Alan Greenspan | 61% |
| 2003 | Alan Greenspan | 65% |
| 2002 | Alan Greenspan | 69% |
| 2001 | Alan Greenspan | 74% |
Data for 2023 collected April 3-25, with this statement put to respondents: “Please tell me how much confidence you have [in the Fed chair] to recommend the right thing for the economy.”
We can see that trust in the Federal Reserve has fluctuated significantly in recent years.
For example, under Alan Greenspan, trust was initially high due to the relative stability of the economy. The burst of the dotcom bubble—which some attribute to Greenspan’s easy credit policies—resulted in a sharp decline.
On the flip side, public confidence spiked during the COVID-19 pandemic. This was likely due to Jerome Powell’s decisive actions to provide support to the U.S. economy throughout the crisis.
Measures implemented by the Fed include bringing interest rates to near zero, quantitative easing (buying government bonds with newly-printed money), and emergency lending programs to businesses.
Confidence Now on the Decline
After peaking at 58%, those with a “great deal” or “fair amount” of trust in the Fed chair have tumbled to 36%, the lowest number in 20 years.
This is likely due to Powell’s hard stance on fighting post-pandemic inflation, which has involved raising interest rates at an incredible speed. While these rate hikes may be necessary, they also have many adverse effects:
- Negative impact on the stock market
- Increases the burden for those with variable-rate debts
- Makes mortgages and home buying less affordable
Higher rates have also prompted many U.S. tech companies to shrink their workforces, and have been a factor in the regional banking crisis, including the collapse of Silicon Valley Bank.
Where does this data come from?
Source: Gallup (2023)
Data Notes: Results are based on telephone interviews conducted April 3-25, 2023, with a random sample of –1,013—adults, ages 18+, living in all 50 U.S. states and the District of Columbia. For results based on this sample of national adults, the margin of sampling error is ±4 percentage points at the 95% confidence level. See source for details.
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