Jim Bianco, President and Macro Strategist at Bianco Research, warned in a series of tweets and in a Bloomberg interview on Nov. 29 that any restrictions imposed in response to Omicron would fuel faster inflation, with his remarks coming as President Joe Biden plans to provide an update later in the day on the U.S. response to the new CCP (Chinese Communist Party) virus variant.
The White House said in a readout of a Sunday meeting with the COVID-19 Response Team on Omicron that the administration’s medical adviser Dr. Anthony Fauci said it would take around two weeks to gather more definitive information about the new strain, though he continues to believe that existing vaccines will likely provide “a degree of protection against severe cases” of COVID-19, the disease caused by the CCP virus.
