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Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

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1

Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

2

As CEO of the $96 billion Sam’s Club, Latriece Watkins is testing her mettle at the warehouse retailer that produced CEOs for Walmart, Target, and Walgreens

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Current price of oil as of May 29, 2026
EnvironmentHurricanes

Hurricane Idalia gains speed as it bears down on Florida and the Southeastern coast

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
August 29, 2023, 11:49 AM ET
Hurricane Idalia is expected to hit Florida on Wednesday.
Hurricane Idalia is expected to hit Florida on Wednesday. National Hurricane Center

Hurricane Idalia is rapidly gaining strength in the warm waters of the Gulf of Mexico and should be a major hurricane when it pounds Florida on Wednesday morning, forecasters said in the latest tracking report.

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The National Hurricane Center, in its 11:00 a.m. update Tuesday, noted Idalia had maximum sustained winds of 85 mph (5 mph faster than the previous report) and had slightly altered its path.

The storm is now expected to hit the Apalachee Bay area, just south of Tallahassee, Wednesday morning. Current models predict the storm will be a strong Category 3 hurricane on the Saffir-Simpson scale, with winds approaching 127 mph.

The current track has it proceeding over southeast Georgia, then along the South Carolina coast, bringing Tropical Storm force winds. (An area from central Florida through Myrtle Beach, S.C., is currently under a Tropical Storm warning.)

While Idalia will be weaker as it moves up the coast, forecasters are concerned that it will occur at the same time as the Super Blue Moon. Tides in coastal towns will already be as much as a foot higher due to the lunar gravitational pull. With the heavy rains the storm will bring, that could result in devastating flooding.

“Life-threatening storm surge inundation is likely elsewhere along portions of the Florida Gulf Coast,” the National Hurricane Center warned. “Areas of flash and urban flooding, some of which may be locally significant, are expected across portions of the west coast of Florida, the Florida Panhandle, and southern Georgia Tuesday into Wednesday, spreading into portions of the eastern Carolinas Wednesday into Thursday.”

Florida Gov. Ron DeSantis has declared a state of emergency and warned residents of his state to make “final preparations” before the storm arrives.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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