Omicron Increases Inflation Uncertainty, Fed Chair Will Tell Lawmakers

Omicron Increases Inflation Uncertainty, Fed Chair Will Tell Lawmakers

The New York Times – by Jeanna Smialek and Alan Rappeport

Jerome H. Powell, the Federal Reserve chair, will tell lawmakers on Tuesday that inflation is likely to last well into next year and that the new Omicron variant of the coronavirus creates more uncertainty around the economic outlook, according to a copy of his prepared remarks.

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