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11/29/2021, 10:39 PM (Source: TeleTrader)
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Fed's Powell: Omicron to raise inflation uncertainty

The newly-uncovered COVID-19 variant, dubbed Omicron, could create additional uncertainty for the inflation outlook in the United States, Federal Reserve Chair Jerome Powell said on Monday.

In prepared remarks set for delivery the day after, before the US Senate's Committee on Banking, Housing, and Urban Affairs, Powell added that the new virus strain poses a risk "to employment and economic activity."

"It now appears that factors pushing inflation upward will linger well into next year," he predicted.

Baha Breaking the News (BBN) / BU