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Federal Reserve Chair Jerome Powell says
Omicron WILL pose a threat to the US economy
and make the bid to reverse soaring inflation
more difficult and could see prices increases
'well into next year'

Original Article

Posted By: Ribicon, 11/29/2021 8:34:38 PM

Federal Reserve Chair Jerome Powell says that the appearance of a new COVID-19 variant could slow the economy and hiring, while also raising uncertainty about inflation. The recent increase in delta cases and the emergence of the omicron variant 'pose downside risks to employment and economic activity and increased uncertainty for inflation,' Powell said Monday in prepared remarks to be delivered to the Senate Banking Committee on Tuesday. The new variant could also worsen supply chain disruptions, he said. Powell's comments come after other Fed officials in recent weeks have said the central bank should consider winding down its ultra-low interest rate policies more quickly than it currently plans.


Federal Reserve Chair Jerome Powell, an economic genius second only to Janet Yellen and AOC, blames the virus instead of the Russians or his own failed policies.

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Reply 1 - Posted by: Bur Oak 11/29/2021 8:38:54 PM (No. 992372)
Can't improve the OP's post.
19 people like this.

Reply 2 - Posted by: DVC 11/29/2021 8:40:51 PM (No. 992375)
Really shoveling out the BS there, aren't you, you damned fraud.
18 people like this.

Reply 3 - Posted by: downnout 11/29/2021 8:53:35 PM (No. 992379)
Face it guys, you blew it on inflation.
12 people like this.

Reply 4 - Posted by: scottj 11/29/2021 9:00:27 PM (No. 992380)
Powell is a loser and that is his excuse.
11 people like this.

Reply 5 - Posted by: caljeepgirl 11/29/2021 9:06:43 PM (No. 992383)
Paul Volcker must be turning over in his grave.......
8 people like this.

Reply 6 - Posted by: Jerseyden 11/29/2021 9:07:33 PM (No. 992384)
I still think ‘Global Warming’ is the cause. S/O
10 people like this.

Reply 7 - Posted by: laurenc 11/29/2021 9:13:10 PM (No. 992387)
Joe says until you fools get vaccinated, I have to keep making this Schiff up.
6 people like this.

Reply 8 - Posted by: Omen55 11/29/2021 9:16:37 PM (No. 992390)
This will do wonders for dem in the midterms.
7 people like this.

Reply 9 - Posted by: planetgeo 11/29/2021 9:19:41 PM (No. 992395) THAT is the reason for the sudden appearance of the new super duper variant. They desperately needed something to blame the continued inflation right up to the mid term election.
15 people like this.

Reply 10 - Posted by: formerNYer 11/29/2021 9:19:59 PM (No. 992396)
xiden looking for an excuse for everything got to Haiti is a hand basket.
5 people like this.

Reply 11 - Posted by: SkeezerMcGee 11/29/2021 9:38:00 PM (No. 992415)
The includes a declarative sentence: "While little is known definitively about the health effects of the omicron variant. If it were to . . . ."
9 people like this.

Reply 12 - Posted by: rochow 11/29/2021 9:41:50 PM (No. 992417)
Hm, begins to look like this 'virus' is a very convenient new 'import'! Every time we want to wreck the economy, we'll just have another 'virus'!!
13 people like this.

Reply 13 - Posted by: curious1 11/29/2021 10:54:31 PM (No. 992465)
Baloney! Just a precautionary CYA statement because they know they've messed up big time.
5 people like this.

Reply 14 - Posted by: JHHolliday 11/30/2021 12:22:57 AM (No. 992505)
Yeah, sure, blame it on a virus. Won’t work now. Now the voters can see the horrible effects of inflation every time they fill up their vehicle or go to the grocery store. The spin by the media seems to be the Presidents can do little or nothing to affect gas prices. So closing down pipelines and declaring war on the oil industry means nothing, eh?
9 people like this.

Reply 15 - Posted by: Lawsy0 11/30/2021 1:48:54 AM (No. 992539)
Maybe neither Powell nor Biden understand the supply chain.
4 people like this.

Reply 16 - Posted by: mifla 11/30/2021 2:54:55 AM (No. 992551)
Covid, the excuse that never dies. Tired of the current mutation, just wait a day or two!
6 people like this.

Reply 17 - Posted by: Trigger2 11/30/2021 4:54:31 AM (No. 992586)
What a putz! They haven't even started to analyze Omicron yet to determine how bad or not it is.
4 people like this.

Reply 18 - Posted by: Clinger 11/30/2021 8:14:50 AM (No. 992689)
Well that most certainly will be the case if this is used as an excuse to shut down production and print more money. Kind of like Russian roulette with all six chambers loaded.
3 people like this.

Reply 19 - Posted by: 3XALADY 11/30/2021 8:32:22 AM (No. 992710)
Who knew that bankers could play doctors too.
2 people like this.

Reply 20 - Posted by: MickTurn 11/30/2021 1:54:34 PM (No. 993035)
Well if you can't count money, fake it...MORON!
1 person likes this.

Reply 21 - Posted by: doctorfixit 12/1/2021 10:42:10 AM (No. 993841)
Inflation is by design, it's government policy, and so are the endless new "variants" that we see being used to justify government inflation
1 person likes this.

Reply 22 - Posted by: Kafka2 12/4/2021 4:03:01 PM (No. 997074)
The new Covid variant will not be the reason for inflation, supply chain problems, and all the other problems we experienced last time. No, it will be due to the over reaction and draconian policies that didn’t work last time being reimposed again! Biden and the Democrats can’t wait to go on another tyrannical power trip dictating every thing we do. They will never acknowledge that their policies are the problem, but blame it all on Covid and Donald Trump.
3 people like this.

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