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19.12 - 13:41
Powell Warns Omicron Variant Could Worsen Inflation-Boosting Bottlenecks
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Federal Reserve Chairman Jerome Powell is grappling with how to chart policy amid an inflationary surge far larger than officials anticipated and threatening to become more unpredictable because of the emergence of the new Omicron coronavirus variant.
Mr. Powell appears Tuesday morning before the Senate Banking Committee alongside Treasury Secretary Janet Yellen for two days of hearings. In prepared testimony, Mr. Powell said the variant, identified in South Africa last week, risks intensifying supply-chain disruptions that have fueled a surprising surge in inflation this year while also potentially restraining the supply of labor.
Read more on wsj.comAbout this in other media
Why it’s time to move on from ‘transitory’ inflation fnlondon.com /2 years ago
COVID: Omicron variant linked to increased risk of reinfection, claims study euronews.com /2 years ago
US adds 210,000 jobs in November ahead of discovery of Omicron variant theguardian.com /2 years ago
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