Stock futures dropped and investors took to government bonds after Regeneron Pharmaceuticals and other drugmakers raised concerns that vaccines and antibody-drug cocktails will not work as well against the Omicron variant. Economists said the global economy could suffer from the variant, potentially undermining policy plans to focus on inflation rather than weak demand. Many countries have already imposed travel restrictions, shaking consumer and corporate confidence and likely limiting holiday economic activity.
Fragmented Reactions Hinder Global Fight Against Omicron Variant - The New York Times
Omicron lockdown not needed for now, Biden says - BBC News
NYC Issues Mask Advisory Due To New Omicron Variant - Forbes
@jeannasmialek: Jerome Powell: "The 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.
The Biden administration announced Monday that it would delay issuing suspensions or other serious penalties in accordance with the federal vaccine mandate until 2022. The American Federation of Government Employees said that for now, agencies will continue offering counseling and education to the roughly 3.5% of workers who have yet to receive a vaccination or request an exemption.
Most employers will require workers to get COVID shots, survey shows - USA Today
Judge temporarily blocks Biden administration vaccine mandate for health-care workers in 10 states - The Washington Post
Rising inflation is leading to price increases across the supply chain as gas prices continue to rise, but the surge in oil prices is just getting started, according to JPMorgan Chase. A report warned clients that Brent crude oil will hit $125 a barrel next year and $150 in 2023, more than double today's Brent price of $73.50. The increase can partially be attributed to more people driving, but oil-exporting countries have chosen to increase production slowly instead of opening the traps, in part due to pressure to limit environmental damage.
America’s Power Plants Are Low on Coal - The Wall Street Journal
Oil firms face workforce crunch as renewables beckon -survey - Reuters
Putting gasoline prices in perspective - Axios
@RuhleOnMSNBC: As Americans hit the road to travel this Thanksgiving weekend, gas prices were a top talker at the dinner table. @SRuhle explains what you need to know about the cost of gas. #ForFactsSake
The Federal Trade Commission asked Amazon.com, Procter and Gamble, Walmart and others for information about how they are handling the supply chain shortages as part of a study into whether the problems have led to anticompetitive behavior and higher prices. The FTC hopes the request helps them understand the reasons behind the widespread supply-chain problems hindering economic growth.
The Biden administration, under fire for supply chain woes, says stores will be fully stocked for the holidays. - The New York Times
Amazon illegally interfered with failed union vote, federal official says - CNET
FTC orders Walmart, Amazon, Kroger and more to turn over information on empty shelves, high prices - USA Ttoday
The pandemic continues to promote entrepreneurship and self-employment. The number of unincorporated self-employed workers has risen by 500,000 to 9.44 million since the start of the pandemic, according to Labor Department data, the highest total since the 2008 financial crisis. Entrepreneurs are taking to online marketplaces like Etsy which has increased its active sellers by 2.6 million since 2019.
How to leverage the Great Resignation if you actually like your job and want to stay - CNBC
Remote work has a downside. Here’s why I want to go back to the office - Fast Company
@AndrewCrow: We need to change the narrative around "remote work". In a future where many people can work anywhere, everyone is remote – including those in an office. Striving for equity in collaboration experience is the