Economists are slashing their growth forecasts for next year due to the Omicron variant of COVID-19.
According to <a href="https://www.wsj.com/articles/omicron-variant-is-expected-to-dent-global-economy-in-early-2022-11640631554?mod=hp_lead_pos2">The Wall Street Journal</a>, Moody’s Analytics chief economist Mark Zandi downgraded his first-quarter GDP prediction for the United States from 5.2% to 2.2%, as he “can see the economic damage mounting going into the first quarter.” He noted reductions in travel spending, as well as the cancellation of arts and entertainment events.
Pantheon Macroeconomics likewise cut its forecast for annualized American GDP growth from 5% to 3% in the first quarter of 2022. Meanwhile, other analysts are keeping a close eye on Omicron before amending their predictions.
“It’s unfortunate [the Omicron variant] had to break out during the holiday season, even in places like New York City, where people are highly vaccinated,” Barclays economist Pooja Sriram told The Wall Street Journal. “We see some kind of voluntary social distancing if people start canceling travel plans and become hesitant about using accommodation, that will have an effect on growth and employment.”
In reaction to Omicron — which appears to have less severe symptoms than earlier COVID-19 variants — hedge fund manager Bill Ackman <a href="https://www.dailywire.com/news/its-time-to-stop-forcing-vaccinations-living-in-fear-of-covid-hedge-fund-manager-says">advised</a> Americans to stop living in “fear of COVID.”
“We have reached the stage in the Covid crisis where our attention needs to focus on severity and protecting those who are vulnerable rather than case counts,” Ackman said. “While unvaccinated Americans are still at risk, the vax decision is a personal one. We need to give the healthcare system the resources it needs, and we need to start living again.”
“It appears that Omicron will ‘vaccinate’ everyone who isn’t already vaccinated. Let’s protect the vulnerable and continue to live our lives. The beginning of the end of living in fear of Covid is near,” Ackman added in a follow-up tweet.
Beyond the United States, Omicron is inspiring Western leaders to <a href="https://www.dailywire.com/news/germany-headed-for-recession-as-covid-restrictions-tighten">tighten</a> COVID-19 restrictions — leading their economies to undergo contractions. As CNN Business reported about Germany:
<blockquote>Europe’s largest economy will shrink 0.5% in the fourth quarter of this year, compared with the third, and stagnate in the first three months of 2022, according to projections published Tuesday by the Ifo Institute for Economic Research. An economy is in recession when it contracts for two consecutive quarters…
Growth is expected to pick up next summer as a wave of coronavirus cases subsides and supply bottlenecks ease, but the slow start to the year will cost the manufacturing powerhouse. Ifo slashed its growth forecast for 2022 by 1.4 percentage points to 3.7%.
Ifo expects inflation to increase by 3.1% this year and 3.3% in 2022, rates that far exceed the European Central Bank’s target of 2%. Consumer prices are not expected to return to normal until 2023, according to Ifo.</blockquote>
Over the weekend and into Monday, Omicron was at least partially responsible for a <a href="https://www.dailywire.com/news/christmas-flightmare-thousands-of-travelers-stranded-for-holidays-after-omicron-forces-delays-cancellations">surge</a> in flight cancellations — which The Daily Mail called a “Christmas Flightmare.” Nearly 1,000 flights either entering or leaving the United States were canceled on Christmas Day alone.
The Daily Wire is fighting Joe Biden’s vaccine mandate in federal court. Join us in this fight by <a href="https://lp.dailywire.com/osha-petition/">signing our petition</a> to OSHA, telling them that you will not comply with this mandate.

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Analysts Slash 2022 Economic Growth Forecasts Due To Omicron Variant

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News and Commentary

Economy

Omicron

Omicron Variant

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News and Commentary —

Analysts Slash 2022 Economic Growth Forecasts Due To Omicron Variant