New York | Rising COVID-19 cases and the new omicron variant could imperil the economic recovery and exacerbate inflationary pressures, Federal Reserve chairman Jay Powell was set to tell US legislators on Tuesday (Wednesday AEDT).
In testimony to be delivered at a joint congressional hearing with Treasury Secretary Janet Yellen, Mr Powell will say that while US consumer demand remains buoyant and workers are returning to the workforce, the possibility of coronavirus pandemic-related setbacks is clouding the economic outlook.
