{"id":1091737,"date":"2021-12-06T21:00:54","date_gmt":"2021-12-07T02:00:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1091737"},"modified":"2021-12-06T21:00:58","modified_gmt":"2021-12-07T02:00:58","slug":"goldman-sachs-lowers-2022-gdp-growth-projections-due-to-omicron-variant","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/goldman-sachs-lowers-2022-gdp-growth-projections-due-to-omicron-variant\/","title":{"rendered":"Goldman Sachs Lowers 2022 GDP Growth Projections Due To Omicron Variant"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgoldman-sachs-lowers-2022-gdp-growth-projections-due-to-omicron-variant%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1091737&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Goldman Sachs lowered its 2022 economic growth outlook from 4.2% to 3.8% due to uncertainty surrounding the Omicron variant of COVID-19.<\/p>\n<p>\u201cWhile many questions remain unanswered, we now think a moderate downside scenario where the virus spreads more quickly but immunity against severe disease is only slightly weakened is most likely,\u201d said Goldman Sachs economist Joseph Briggs in an investor\u2019s note, according to <a href=\"https:\/\/www.reuters.com\/markets\/us\/goldman-sachs-cuts-us-gdp-growth-forecast-2022-over-omicron-fears-2021-12-04\/\">Reuters<\/a>. Briggs also warned that labor shortages could worsen if employees refuse to work over virus fears; meanwhile, lockdowns in foreign countries could worsen supply chain bottlenecks.<\/p>\n<p>In remarks to Congress, Federal Reserve Chair Jerome Powell likewise <a href=\"https:\/\/www.dailywire.com\/news\/in-remarks-to-congress-powell-says-omicron-complicates-inflation-forecasts\">said<\/a> that the Omicron variant strain will cause uncertainty about economic growth and inflation in the coming months.<\/p>\n<p>\u201cThe recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation,\u201d he explained. \u201cGreater concerns about the virus could reduce people\u2019s willingness to work in person, which would slow progress in the labor market and intensify supply-chain disruptions.\u201d<\/p>\n<p>Some American officials have already laid the foundation for additional COVID-19 lockdown measures. For instance, Gov. Kathy Hochul (D-NY) <a href=\"https:\/\/www.dailywire.com\/news\/ny-gov-hochul-declares-disaster-emergency-as-omicron-coronavirus-variant-takes-focus\">signed<\/a> an executive order declaring a disaster emergency in New York \u2014 giving her the power to postpone elective surgeries, among other actions.<\/p>\n<p>\u201cWe continue to see warning signs of spikes in COVID this winter, and while the new Omicron variant has yet to be detected in New York State, it\u2019s coming,\u201d she argued. \u201cThrough this action, we will also be able to acquire critical supplies more quickly to combat the pandemic.\u201d<\/p>\n<p>During an interview with ABC News anchor George Stephanopoulos, Dr. Anthony Fauci <a href=\"https:\/\/www.dailywire.com\/news\/prepare-for-the-worst-fauci-says-travel-bans-wont-stop-omicron-too-early-to-say-if-more-lockdowns-are-coming\">warned<\/a> that Americans should \u201cprepare for the worst.\u201d<\/p>\n<p>\u201cWe\u2019re seeing these travel bans. Are they going to make any difference?\u201d Stephanopoulos asked.<\/p>\n<p>\u201cYou know, it will slow things down, George,\u201d Fauci replied, adding that travel bans are not likely to stop the highly transmissible virus from traveling across borders. \u201cNo way that\u2019s going to happen. What you can do is you can delay it enough to get us better prepared. That\u2019s the thing that people need to understand. If you\u2019re going to do the travel ban the way we\u2019ve done now and that we\u2019re implementing right now, utilize the time that you\u2019re buying to fill in the gaps.\u201d<\/p>\n<p>Stephanopoulos asked for Fauci\u2019s advice with respect to travel outside of the United States.&nbsp;<\/p>\n<p>\u201cRight now people should be prudent,\u201d Fauci replied, noting that any travel during a pandemic posed a risk. \u201cThe best way to protect yourself, if you\u2019re going to travel, have to travel, or want to travel, is to get vaccinated and to be prudent when you travel about wearing masks in indoor settings such as if you go to the airport, which is one of the most congregate settings you can imagine. Make sure you wear a mask. Above all vaccination will be the most important way to prevent you from being at such a high risk.\u201d<\/p>\n<p>When asked about the potential return of lockdowns, Fauci said: \u201cI don\u2019t know, George. It\u2019s really too early to say.\u201d<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goldman Sachs lowered its 2022 economic growth outlook from 4.2% to 3.8% due to uncertainty surrounding the Omicron variant of COVID-19.\u201cWhile many questions remain unanswered, we now think a moderate downside scenario where the virus spreads more quickly but immunity against severe disease is only slightly weakened is most likely,\u201d said Goldman Sachs economist Joseph Briggs in an investor\u2019s note, according to Reuters. Briggs also warned that labor shortages could worsen if employees refuse to work over virus fears; meanwhile, lockdowns in foreign countries could worsen supply chain bottlenecks.In remarks to Congress, Federal Reserve Chair Jerome Powell likewise said that the Omicron variant strain will cause uncertainty about economic growth and inflation in the coming months.\u201cThe recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation,\u201d he explained. \u201cGreater concerns about the virus could reduce people\u2019s willingness to work in person, which would slow progress in the labor market and intensify supply-chain disruptions.\u201dSome American officials have already laid the foundation for additional COVID-19 lockdown measures. For instance, Gov. Kathy Hochul (D-NY) signed an executive order declaring a disaster emergency in New York \u2014 giving her the power to postpone elective surgeries, among other actions.\u201cWe continue to see warning signs of spikes in COVID this winter, and while the new Omicron variant has yet to be detected in New York State, it\u2019s coming,\u201d she argued. \u201cThrough this action, we will also be able to acquire critical supplies more quickly to combat the pandemic.\u201dDuring an interview with ABC News anchor George Stephanopoulos, Dr. Anthony Fauci warned that Americans should \u201cprepare for the worst.\u201d\u201cWe\u2019re seeing these travel bans. Are they going to make any difference?\u201d Stephanopoulos asked.\u201cYou know, it will slow things down, George,\u201d Fauci replied, adding that travel bans are not likely to stop the highly transmissible virus from traveling across borders. \u201cNo way that\u2019s going to happen. What you can do is you can delay it enough to get us better prepared. That\u2019s the thing that people need to understand. If you\u2019re going to do the travel ban the way we\u2019ve done now and that we\u2019re implementing right now, utilize the time that you\u2019re buying to fill in the gaps.\u201dStephanopoulos asked for Fauci\u2019s advice with respect to travel outside of the United States.\u00a0\u201cRight now people should be prudent,\u201d Fauci replied, noting that any travel during a pandemic posed a risk. \u201cThe best way to protect yourself, if you\u2019re going to travel, have to travel, or want to travel, is to get vaccinated and to be prudent when you travel about wearing masks in indoor settings such as if you go to the airport, which is one of the most congregate settings you can imagine. Make sure you wear a mask. Above all vaccination will be the most important way to prevent you from being at such a high risk.\u201dWhen asked about the potential return of lockdowns, Fauci said: \u201cI don\u2019t know, George. It\u2019s really too early to say.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1091737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1091737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1091737"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1091737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1091737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1091737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1091737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}