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.
Swenson was also interviewed by:
Khalil Maycock, WOI-TV, about possible effects of the omicron COVID strain on the recovery and what it might mean for lowering inflation.
Austin Wu, Iowa City Press Citizen, about factors that have prevented Iowa from growing over the decades as rapidly as some other Midwestern and Plains states.
Amanda Rooker, KCCI, about the importance of the revised RFS standards that were issued today and how they affect the ethanol industry and corn producers.
Tom Cullen, Storm Lake Times, about what was driving the growth in soybean crushing facilities in Iowa and in the Midwest.