Omicron, the most recent coronavirus strain, has had a significant impact on some areas of the economy, resulting in workforce shortages and child care concerns, as well as reawakening some Americans' fear of leaving home again.
However, in a new interview, Commerce Secretary Gina Raimondo shared encouraging news from recent conversations with business representatives.
"They see the Omicron crisis as short-term," Raimondo said during an interview in Washington, DC, for a new episode of Influencers with Andy Serwer. "People are starting to note, 'It seems as if we are nearing a peak and will begin to go down the other side of the curve.'"
However, she continued: "How long that will take is anyone's estimate."
Contacts of The Commerce Secretary aren't alone in assessing the situation this way: Omar Aguilar, CEO and CIO of Schwab Asset Management, similarly forecasts lessening omicron consequences on the business sector. "We're likely to have a really strong and powerful earnings period," he stated, adding that the strain will have an effect on income releases.
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