The new coronavirus variant Omicron may affect inflation rates and worsen existing supply chain disruptions leading to slower economic growth claimed U.S. Treasury Secretary Janet Yellen on Thursday at the Reuters Next conference. As the economy keeps recovering from pandemic-related restrictions, and life “returning towards normal” with “increased vaccination and booster shots,” Yellen said that the new variant “could be with us for quite some time,” leading to behavioral patterns that could contribute to inflation. The Delta variant caused a slowdown in the American economy earlier in the year. And, given how highly transmissible the new variant appears, there is a great deal of uncertainty in markets and among world governments. Currently, Omicron, which was first identified in southern Africa, has now spread to around 24 nations around the world, including the United States, Canada, and countries in Europe and Asia. As of now, symptoms are reported to be mild …
Omicron Could Disrupt US Economic Recovery, Inflation No Longer ‘Transitory’: Yellen
December 3, 2021
admin
Business & EconomyeconomyinflationJerome Jay PowellOmicron variantSecretary Janet YellentransitoryUSUS News
0 Comment