As every other mistaken justification for the ‘great resignation’ and stagnant job growth with spiraling inflation have collapsed to nothingness, like a gift from Fauci the frightening new “Omicron” variant of COVID19 came. And the renewed panic built by governments and the media alike has provided a new scapegoat for the sheer unwillingness of many Americans to return to work as long as Democrat-Socialists continue to hurl free money at them. He even tangentially tied supply-chain disruptions and inflation in for good measure!
In a prepared statement to Congress, the Biden-Harris regime’s Federal Reserve Chairman Jerome Powell speculated,
“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 also added that “factors pushing inflation upward will linger well into next year.”
The Omicron Scapegoat: All The Excuses They Could Ask For
The ‘discovery’ of Omicron has even given pro-mandate voices a way to silence detractors who pointed to the peculiar resistance of the African continent to COVID despite single-digit vaccine adoption there. There is even talk of a Lockdown2.0, it’s almost as if this new variant of COVID could give the authoritarians in support of the rampaging medical tyranny here and abroad, almost everything they want.
In context, Powell wrote,
“Most forecasters, including at the Fed, continue to expect that inflation will move down significantly over the next year as supply and demand imbalances abate. It is difficult to predict the persistence and effects of supply constraints, but it now appears that factors pushing inflation upward will linger well into next year. In addition, with the rapid improvement in the labor market, slack is diminishing, and wages are rising at a brisk pace.
We understand that high inflation imposes significant burdens, especially on those less able to meet the higher costs of essentials like food, housing, and transportation. We are committed to our price-stability goal. We will use our tools both to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched.
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. 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.