Federal Reserve Chair Jerome Powell will tell lawmakers Tuesday that the Omicron variant of the coronavirus could slow the recovery in the U.S. job market and prolong supply chain disruptions that have fueled price spikes. Powell said in testimony prepared for a Senate Banking Committee hearing that he still expects inflation to cool significantly next year, but he acknowledged that Omicron and other factors have led to more uncertainty about such forecasts. “Greater concerns about the virus could reduce people’s willingness to work in person, which would slow progress in the labor market and intensify supply-chain ... (full story)