Iowa economist: Omicron variant of COVID-19 may slow economic recovery
JOHNSTON, Iowa (WOI) - Experts say the Omicron variant could slow down the nation’s economic recovery, including here in Iowa.
Dave Swenson with Iowa State University says if Omicron is similar to the Delta variant, economic recovery could take longer.
“It may make the inflation rates stay a little bit higher for a little bit longer time because, again we very well may see a disruption in the movement of critical input production,” he said. “It can have an effect on business activity worldwide, which then again starts to slow our or interferes with or flow of goods.”
Swenson says people should expect longer wait times for certain products amid the ongoing supply chain shortage.
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