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Snow and dangerously bitter cold have begun to spread from the Rocky Mountains to the Great Lakes as a massive storm pushes toward the US Northeast, disrupting travel and threatening power outages for much of the nation.
The storm is expected to span nearly 1,500 miles (2,400 kilometers), bringing heavy snow, crippling ice and subzero wind chill to some of the biggest US cities. Natural gas prices surged on concern iced-over equipment will choke supplies. Airlines have already canceled more than 3,000 flights and Amtrak has pulled dozens of trips from its schedule.
Chicago schools were closed Friday as the third-largest US district braced for wind chills of -30F (-34), while ski resorts in Michigan took the unusual step of shutting slopes because of the extreme cold.
“This is a gigantic storm,” former Federal Emergency Management Agency chief Deanne Criswell said during a Bloomberg Television interview. “Close to 200 million people” are in the path of the weather system.
Through Monday morning, Nashville and Charlotte could see more than a half-inch (1.3 centimeters) of freezing rain. That’s enough to snap tree branches and power lines, potentially triggering widespread power outages. The punch of polar air sent power prices soaring. Prices for electricity and natural gas — the No. 1 power-plant fuel, as well being widely used for home heating — jumped ahead of the storm and remain elevated.
Today's show features:

Bloomberg News Energy Reporter Josh Saul on the significant storm spreading from the Rocky Mountains to the Great Lakes and toward the US Northeast, disrupting travel and threatening power outages
Andrew Krei, Chief Investment Officer at Crescent Grove Advisors, on Federal Reserve policy and the market outlook
Bloomberg News Technology Reporter Alexandra Levine on the US arm of TikTok getting bought by an Oracle-led consortium
Lauren Hochfelder, Head of Global Real Assets at Morgan Stanley, on the US real estate market and outlook

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Major Storm to Test Power Grids Across Much of US This Weekend

Bloomberg Businessweek