Federal Reserve Chair Jerome Powell says that the appearance of a new COVID-19 variant could slow the economy and hiring, while also raising uncertainty about inflation, Your Content has learned.
Powell testifies before the Senate Banking Committee Tuesday.
‘Greater concerns about the virus could reduce people’s willingness to work in person, he plans to say.
He will say ‘factors pushing inflation upward will linger well into next year’.
President Joe Biden Monday urged Americans to get vaccinated or get their booster shots amid warnings about the spread of the Omicron variant.
But Biden insisted that the infectious new variant was not a cause for ‘panic’,’according to CSNBC.
Federal Reserve Chair Jerome Powell says Omicron WILL pose a threat to the US economy and make the bid to reverse soaring inflation more difficult and could see prices increases ‘well into next year’ appeared first on Your Content.
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Author: Your Content Staff
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