Fed's Powell Says U.S. Economy Can Handle Omicron

The transcript discusses the potential risks and economic impacts of new COVID-19 variants, particularly focusing on transmissibility and severity. It highlights the uncertainty surrounding these variants and their effects on the economy, including demand, supply, inflation, and growth. The importance of vaccination in mitigating economic impacts is emphasized, along with the role of policy measures in maintaining economic resilience.

What is the primary concern about the new variant discussed in the first section?

• Its ability to replace Delta as the dominant variant

• Its complete unpredictability in terms of spread

• Its potential to be more severe than Delta

• Its resistance to all existing vaccines

How does the new variant potentially affect the economy according to the second section?

• By boosting consumer confidence

• By increasing global trade

• By stabilizing inflation rates

• By suppressing demand and supply

What role does vaccination play in the economic impact of the new variant?

• It only affects the supply chain

• It increases the economic impact

• It has no effect on the economic impact

• It reduces the economic impact

What is the general outlook on the economy's ability to handle the new variant as discussed in the third section?

• The economy will thrive regardless of the variant

• The economy will collapse without immediate intervention

• The economy is too weak to handle any new variant

• The economy can handle it without additional support

What is considered an appropriate economic policy measure in response to the current situation?

• Eliminating all economic support immediately

• Maintaining current levels of support indefinitely

• Increasing quantitative easing

• Tapering economic support measures