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Omicron variant could pose threat to employment and economic activity: Powell Updated: 2021-11-30 13:57:20 KST

U.S. Federal Reserve Chairman Jerome Powell says that the Omicron variant will threaten the U.S. economy.
He said in a statement which he plans to deliver to the Senate on Tuesday that "the recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation."
Powell also added that due to the variant, people's willingness to work in person will decrease, which in turn will slow down the recovery of the labor market and further disrupt supply-chains.
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