Fed Chair Jerome Powell, speaking at the Senate hearing for his renomination, reiterated on Tuesday that he expects the economy to be able to deal with the current and future Covid-19 outbreaks. 

Additional Remarks:

"There may be lower hiring and pause in growth due to Omicron but should be short-lived."

"The next quarters could be very positive for the economy after Omicron has subsided."

"We are seeing an economy that functions during Covid waves."

"Risks on both sides on growth and potentially on inflation."