Economists worry omicron variant will slow recovery if it prolongs pandemic
There are concerns the omicron variant could slow down the economic recovery across the United States.
When the World Health Organization flagged omicron as a variant of concern on Friday, Wall Street spun out, selling off stocks and oil – although it regained much of its lost ground on Monday.
However, omicron comes at a precarious time – the holiday shopping season. A season that is already burdened by supply chain backup.
Economists worry disappointment could be the name of the game if omicron prolongs the pandemic.
Meanwhile, the head of the federal reserve, Jerome Powell, will testified on Capitol Hill Tuesday.
"The recent rise in COVID-19 cases and the emergency of the omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation," Powell says.
Businesses in Huntington are determined to keep their patrons and employees safe with protocols while also allowing people to have fun.
"I think people are excited about the holiday season, going out and spending some money, enjoying a good time," says Christopher's Bar Grill owner Jack Palladino.
Jen Schulman, who opened Revive Health Studio, a year ago says that if everyone sticks together then she's hopeful they'll be able to get through a surge again.