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Fed Chair Powell: Omicron Variant Poses 'Risks' To Economy Amid Inflation, Supply Chain Issues

Federal Reserve Chair Jerome Powell said that the new OMICRON COVID-19 variant poses "downside risks" to the economy as the U.S. battles inflation, supply chain disruptions and employment challenges. "Greater concerns about the virus could reduce people's willingness to work in person, which would slow progress in the labor market and intensify supply chain disruptions," Powell said to the Senate Banking Committee on Tuesday.

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