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WASHINGTON: The Omicron variant of COVID-19 could slow the recovery of the US economy and labor market and also heighten uncertainty regarding inflation, Federal Reserve Chair Jerome Powell said in testimony released Monday.
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WASHINGTON: Just as it was recovering from the body blow of the COVID-19 pandemic, the global economy has taken yet another hit from the Omicron variant of the virus, which has led to a raft of new travel restrictions.
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LONDON: OPEC and the oil cartel’s allies hold a key output meeting tomorrow facing new challenges as the Omicron coronavirus variant has roiled markets and other US-led nations decided to tap their strategic reserves.
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