Understanding the Current Status of the Omicron Wave and Its Implications

Here’s the latest breaking news on the Omicron virus outbreak: Stay up to date with real-time updates and in-depth coverage of the developing story as it

Here are some key points from the article about the Omicron wave:

Canada’s inflation rate: Canada’s inflation rate is at 5%, its highest level since 2003.
US inflation: Inflation in the United States surged to 7% in December, the highest reading since June 1982, due to COVID-19-related supply chain disruptions and labor market recovery issues.
Royal Bank of Canada’s CEO warning: David McKay, Royal Bank of Canada’s CEO, said that inflation needs to be brought under control through "rapid action" from the country’s central bank, as the recent rise in inflation is not temporary but rather a permanent wage-cost cycle.
European Medicines Agency warning: European authorities are warning that frequent boosters could adversely affect the immune system and tire people out, recommending leaving more time between booster shots and timing them to the onset of the cold season.
Quebec’s vaccination tax proposal: Quebec’s plan to tax unvaccinated residents has come under fire from the Canadian Civil Liberties Association, which argues that it would be a divisive measure punishing those who may be most in need of public health supports and services.
US hospitalizations: The seven-day average for hospitalizations due to COVID-19 in the United States hit 140,576, a record high.
Global supply chain disruptions: Global supply chain disruptions, microchip shortages, high commodity prices, and strong demand are driving inflation not just in the US but also in Canada, according to economist Sal Guatieri.