Fed Chief Says Omicron Poses Risk to Employment, Inflation, Supply Chains

Federal Reserve Chairman Jerome Powell speaks after President Joe Biden nominated him to continue as Chair of the Board of Governors of the Federal Reserve Systems during an event at the White House in Washington on Nov. 22, 2021. Jim Watson/AFP via Getty Images

U.S. Federal Reserve chair Jerome Powell says the emergence of a new CCP (Chinese Communist Party) virus variant poses a risk to employment and inflation in the country.

Powell is set to deliver public remarks—his first on the new variant—before the Committee on Banking, Housing, and Urban Affairs and Senate lawmakers on Tuesday.