US central bankers grapple with fresh uncertainty over the economy following the discovery of the new variant of Covid-19
Federal Reserve chair Jerome Powell. Picture: REUTERS/POOL/SUSAN WALSH
“Greater concerns about the virus could reduce people’s willingness to work in person, which would slow progress in the labour market and intensify supply-chain disruptions.” US central bankers are grappling with fresh uncertainty over the economy following the discovery of the new variant of Covid-19. Governments around the world stepped up restrictions on travel and the World Health Organization warned that the omicron strain could fuel a fresh surge in infections.
“Most forecasters, including at the Fed, continue to expect that inflation will move down significantly over the next year as supply and demand imbalances abate,” Powell said. “It is difficult to predict the persistence and effects of supply constraints, but it now appears that factors pushing inflation upward will linger well into next year.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Covid-19: In swipe at China, US praises SA scientists for 'quick identification' of Omicron | News24The United States has praised South Africa for quickly identifying the new Covid-19 strain called Omicron and sharing this information with the world – a barely veiled slap at China's handling of the original outbreak of the novel coronavirus.
Read more »
LIVE | Covid-19: Australia detects first Omicron infections, US praises SA scientists | News24More countries are imposing travel bans on South Africa following the detection of a highly mutated Covid-19 variant that has since been named Omicron.
Read more »
US stock futures at vanguard of global markets’ rally amid Omicron jittersOil prices bounce more than $3 a barrel to recoup some of Friday’s losses as safe-haven bonds and the yen lose ground
Read more »
Visa complains to US about India backing for local rival RuPayPrime Minister Narendra Modi and other officials promote use of domestic card, US company says
Read more »
Black Friday online sales fall in the US for the first timeRetailers lure shoppers to make holiday purchases earlier because of the supply chain logjam
Read more »
Social media slams Texas governor for claiming South Africans are crossing US border illegallyTexas governor Greg Abbot has caught smoke on social media after falsely claiming South Africans are crossing into the US illegally amid the country's travel ban.
Read more »