Roundup: FEMA preparedness questioned, and reduced energy prices staunch construction cost rises

Storms swept through several states, including Missouri, Kentucky and Texas late last week and over the weekend, killing at least 24 people, injuring many more, and damaging thousands of residences. In Kentucky, Laurel County received the brunt of the damage after an EF-3 tornado with winds between 136 and 165 mph touched down Friday, killing 17 and leveling homes across the region. State officials have not yet released an estimate of the damage.

In Missouri, Friday’s storm killed five and affected more than 5,000 homes, St. Louis Mayor Cara Spencer said, according to the Associated Press. With that, even more storms could pound the central U.S. through Tuesday before mellowing out and moving up the East Coast, according to AccuWeather.

Reporting by CNN and Reuters last week said an internal review by the Federal Emergency Management Agency found that the government entity “is not ready” as hurricane season looms on June 1. Cuts of about 2,000 staff members could challenge FEMA resources and morale, Reuters reported, although FEMA head David Richardson told staff that the agency is “80 or 85% there,” ABC news reported.

The National Oceanic and Atmospheric Administration has also announced plans to end its tracking of weather disasters — a practice that began in the 1980s — due to changing priorities and staffing.

The share of households that reported making large purchases shrank to 53.5% as of April 2025, according to an updated Survey of Consumer Expectations from the New York Fed. Categories including home appliances, furniture, vehicles and vacations saw decreased spending, but electronics dipped most sharply, with 15.4% of households saying they made a big purchase in the category. Households that reported buying a house or apartment also dipped to 2.1%, with 10.7% saying they purchased a vehicle. But more homeowners did say they shelled out for home repairs, with 17.9% reporting the expense.

The survey also found that the median expected year-ahead growth in daily living expenses had expanded slightly, rising from 4.1% in December 2024 to 4.9% in April 2025.

New Jersey’s first transit strike in 40 years came to an end on Sunday, with New Jersey Transit and the Brotherhood of Locomotive Engineers and Trainmen reaching an agreement, The New York Times reported. The rail service is set to resume operations on Tuesday, according to a statement from NJ Transit, a relief for Garden State commuters who have been scrambling since the strike began Friday.

“I am pleased to announce that we have reached a fair and fiscally responsible contract settlement that provides a generous wage increase for BLET members while saving taxpayers and customers the burden of fare increases,” said New Jersey Gov. Murphy in the statement. “This agreement reflects the commitment of both the BLET and NJ TRANSIT to remain at the table engaging in productive conversations, and I commend them both. Most importantly, it ensures the resumption of rail service for the 100,000 people who depend on our rail system on a daily basis.”

Tariffs might be inflating the costs of iron, steel, and copper, but overall construction input prices — or the costs associated with building materials, labor, and other resources — fell 0.1% from March to April, according to analysis from Associated Builders and Contractors. The industry group looked at data from the U.S. Bureau of Labor Statistics’ Producer Price Index, largely attributing the decreasing costs to falling natural gas, unprocessed energy, and crude petroleum prices.

“While recent developments have reduced tariff-related uncertainty, the 25% tax on steel and aluminum imports remains in place, and a sudden resumption in imports from China could cause an increase in shipping prices,” said Anirban Basu, the organization's chief economist, in a press release. “Despite the upward pressure that these factors will put on input prices, just 1 in 4 contractors expect their profit margins to contract over the next six months, according to ABC’s Construction Confidence Index.”

Renee M. Willis was named president and CEO of the National Low Income Housing Coalition, becoming the first Black woman to head the organization since its founding 51 years ago. Willis became the Washington, D.C.-headquartered nonprofit’s interim president and CEO in January.

Willis joined NLIHC in 2015 as its vice president of field and communications, drawing on a three-decade-long background in affordable housing, including as the housing services chief for Virginia’s Arlington County.

“At our core, NLIHC will continue to lead with excellence — grounded in our people, our data, and our policy,” Willis said in a NLIHC press release. “We will defend and advance the housing programs that millions rely on, and we will do so with clarity and courage. But we will also unlock our untapped power — reimagining our work by using narrative and culture as catalysts for systemic change.