Today Fed Chairman Powell gave testimony before the US Senate where he cautioned on the economic impact of the #Omicron Variant on the US economy. This follows on the heels of the World Health Organization’s announcement on Friday that the new variant was a “cause for concern”. In this article, we discuss what the omicron variant is and what we can expect the impact to be on the macroeconomic environment and the coffee market.
The omicron variant of the novel #coronavirus was first reported in South Africa to the #WHO on Nov 24th, and only 2 days later the WHO had already designated it a “concern”. The reason that it is a concern is because the variant has a large variety of mutations that could potentially bypass the immune system defenses, even those bol