CoBank: US Monetary Policy Poised to Replace COVID as Economic Wild Card

Until the omicron surge subsides, the biggest economic risk will be the millions of workers who report sick and hamper already beleaguered supply chains. The impacts for food and agriculture sectors will vary significantly by product but will generally be less severe than earlier in the pandemic, according to a new Quarterly report from CoBank’s Knowledge Exchange.

“Economic risks from new, high-impact coronavirus variants will remain throughout 2022,” said Dan Kowalski, vice president of CoBank’s Knowledge Exchange division. “But Americans are increasingly making peace with the notion that the virus, in some form, will be with us for months if not years, and we must find a way to live more normally with it. This shifting mindset will de-risk the economy to some degree.”

As of late December, the U.S. has regained 84% of the jobs lost since the pandemic began, equating to a deficit of 3.6 million fewer workers compared to early 2020. The…

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