Global temperature departures are likely to fall at least a bit from the very elevated range they're currently at, but it's quite doubtful that the decrease will result in a short term cooling.  Given the background increase in global temperature we'veobserved over the last 40-50 years, the decrease we'd expect to see with the end of El Nino (and possibly the development of La Nina) is still likely to leave global temperatures well above normal.  A piece on the "Beyond the Data" blog explores some of this here:

https://www.climate.gov/news-features/blogs/beyond-data/how-will-el-ni%…