With Inflation and more Omicron-related lockdowns looming on the horizon, the economic outlook for 2022 is dim.
With expectations already low compared to 2021, the worry over the mild Omicron variant has fueled uncertainty in the markets. Recently they have made a slight rebound, but many high-cap stocks still remain jittery.
Economic Troubles:
U.S. inflation rose at the fastest pace since 1982 (6.8%) in November which was the sixth straight month inflation topped 5%.
The Consumer Price Index shot up to 9.5% with price increases on everyday goods and services as high as 12%.
Due to employee absence and extreme labor shortages, U.S. flight cancelations mounted over the holidays causing Christmas chaos.
As the Biden Administration's vaccine mandate faces an uncertain future, large employers face confusion which often leads to massive job terminations. This has been especially prevalent in healthcare.
These and many more problems have arisen out of government overreaction to the coronavirus, but whether that overreaction is driven by legitimate concern or just a lust for power, it needs to stop.
Contributor(s)
Al K. Scott, Joseph Hugh
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