Home » Economy » Fed chief warns Omicron poses risks to US economy

Fed chief warns Omicron poses risks to US economy

WASHINGTON: Federal Reserve Chairman Jerome Powell said in a briefing released Monday that the COVID-19 mutant Omicron could slow the recovery of the US economy and the labor market and raise doubts about inflation.

Powell acknowledged that the factors that raise inflation in the United States “will continue for a long time next year.”

Comments made in Tuesday’s briefing to the Senate Banking Committee reflect the Federal Reserve’s growing concern about the sharp rise in inflation this year, which he has repeatedly emphasized is temporary.

(AFP)

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.