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Omicron threatens to stoke U.S. inflation, top Fed official warns

by Mike Robinson

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© Reuters. FILEPHOTO: Washington, U.S.A, October 20, 2021. REUTERS/Joshua Roberts/File Photo

(Reuters) – Loretta Mester, a top Federal Reserve official has said that Omicron coronavirus variants could fuel soaring inflation by pressuring supply chains further and worsening workers shortages.

Mester, who is the Cleveland Fed president, said to the paper that “if it turns out be a poor variant, it could exacerbate price pressures which we’ve seen due to the supply-chain issues.”

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