(Reuters) – Goldman Sachs (NYSE 🙂 cut Saturday’s outlook for U.S. growth to 3.8% in 2022. It did so citing the risks and uncertainties surrounding the emergence Omicron coronavirus.

Joseph Briggs, Goldman’s economist, stated in a note Omicron could slow down economic reopening but that it would not cause a significant drag on service spending.

Briggs reported that the firm sees an increase of 3.8% in 2022 gross domestic products (GDP), down from 4.2% before on a complete year basis. Q4/Q4 growth is 2.9% down from 3.3%, previously.

His comments were mixed. “While there are many unknowns, we think that a moderately negative scenario in which the virus spreads faster but immune system is not severely weakened is very likely.”

The note states that worker shortages may last longer if employees don’t feel like returning to work.

Goldman noted that the spread of the disease could lead to more supply shortages if other countries impose stricter controls, however an increase in vaccine rates among trade partners will prevent serious disruptions.

Goldman Sachs U.S. Forecast comes after Kristalina Georgieva (Managing Director of International Monetary Fund) stated on Friday that it was possible for the lender to lower its global growth estimates as a result of the Omicron version coronavirus.