omicron variant, and holiday sales rose at the fastest pace in 17 years, according to one spending measure. Omicron is likely to slow the economy’s unexpectedly strong rebound from last year’s coronavirus recession by disrupting travel and discouraging some consumers from venturing out.
The variant could also add more heat to already simmering inflation by forcing shutdowns at factories and ports, delaying shipments and driving up prices. “A full reopening of the U.S.
economy will be delayed yet again,’’ said Robin Brooks, chief economist at the Institute of International Finance, a trade group of financial firms.