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Yellen warns Omicron variant could pose 'significant' risk to global economy
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The Omicron variant could pose a "significant" risk to global economy’s ongoing recovery from the COVID-19 pandemic, Treasury Secretary Janet Yellen said Thursday.
Yellen noted the variant’s economic impact was still "very uncertain" and the subject of ongoing analysis. But she warned the variant’s spread could exacerbate supply chain issues and an ongoing inflation crisis that has hampered the economic recovery in recent months.
"Hopefully it’s not something that’s going to slow economic growth significantly," Yellen said in an interview with Reuters. The delta variant did unexpectedly prove this fall to really cause some problems. We saw a severe slowdown in economic growth in the United States on account of it."