Washington (AFP) – 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. Powell has consistently said the recent spike in inflation would be transitory, but acknowledged that the factors pushing US prices higher will “linger well into next year.” The comments to be delivered to the Senate Banking Committee on Tuesday indicate the central bank chief is growing more concerned about this year’s price increases, which has put pressure on the…

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