Economic worries on US Floods

The United States, which is the key force in global growth might see a deceleration in growth this quarter owing to the effect  of adverse weather conditions. Floods have hit Texas and Oklahoma. Household spending – would naturally be affected. There will have to be rebuilding . There have been losses suffered and a $1.4 trillion-a-year Texas economy which is also location of US' main source of energy has incurred losses.  

That is a blow impacting  the US assets and  the dollar, temporary though.