The U.S. braces for Omicron
Early information from the U.S. means that, as in Britain, Denmark and South Africa earlier than it, the brand new Omicron variant of the COVID-19 coronavirus will unfold quickly. The share of circumstances attributable to Omicron has elevated to 2.9 p.c from 0.4 p.c in only a week within the U.S., and it’s far larger in some areas of the nation.
Much continues to be unknown concerning the variant. Scientists imagine that the vaccines will nonetheless present safety towards the worst outcomes, significantly for individuals who have acquired booster pictures, although breakthrough infections will likely be widespread. There is early proof that T cells, which may also help stave off extreme illness, ought to nonetheless acknowledge the variant even when it evades antibodies produced by the vaccines.
To preserve Omicron at bay, France has banned nonessential journey to and from Britain, which yesterday reported 88,376 new circumstances, a second consecutive every day report. France had already closed nightclubs for 4 weeks and tightened some guidelines in faculties because it confronted a surge in circumstances attributed to the Delta variant.
Central banks attempt to rein in inflation
The Federal Reserve, the Bank of England and the European Central Bank are charting a course towards much less financial help, as quickly rising inflation burdens shoppers and worries policymakers. Price pressures are lingering and, within the U.S., proving broader than many had anticipated.
The Fed introduced on Wednesday that it could sluggish its bond purchases, which ought to place it to boost rates of interest as quickly as March. The Bank of England took that step yesterday, stunning analysts by elevating rates of interest. And the European Central Bank introduced that it could sluggish and shortly cease a pandemic-era bond-buying program.
But the specter of the Omicron variant hovered over the banks’ selections. Caseloads are rising quickly in some locations, and there are fears that the extremely transmissible variant might but result in overwhelmed hospitals — usually the impetus for native financial shutdowns that toss folks out of jobs and sluggish shopper spending.
Analysis: “The core issue is: We’re dealing with many unusual and unfamiliar moving parts in the economy,” mentioned Bernard Baumohl, chief world economist on the Economic Outlook Group. “The dynamics are really complicated this time.”
The Upshot: Why is Jerome Powell, the U.S. Federal Reserve chair, pivoting towards a tighter financial coverage? Our columnist explains.
E.U. warns Russia to again off from Ukraine
E.U. leaders issued a stern warning to Russia yesterday, promising “massive consequences and severe costs” ought to President Vladimir Putin begin a brand new army operation towards Ukraine. “Any further aggressive acts against Ukraine will have massive costs for Russia,” mentioned Ursula von der Leyen, the European Commission president.
More than 100,000 Russian troops have been deployed in elements of Ukraine, together with heavy artillery and tank items. There isn’t any indication that Putin has determined to start an assault, and there’s no consensus amongst Western officers and analysts about why he may wish to achieve this now, although he has grown more and more fixated on Ukraine during the last yr.
At a separate assembly on Thursday, NATO denounced the Russian army buildup however mentioned nothing about offering the extra weaponry or troops Ukraine was searching for.
Threat: The U.S., the E.U. and NATO have mentioned {that a} new Russian incursion into Ukraine could be met with harsh sanctions, probably together with the abandonment of a favourite Kremlin mission, the Nord Stream 2 gasoline pipeline to Germany. Olaf Scholz, Germany’s new chancellor, warned of a “high price” for Russia.
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“There is no record of, nor any knowledge of, your name or your appointment,” the e-mail from an affiliate dean at Harvard mentioned. It concluded: “I wish you the best for your future.”
For over a yr, outstanding girls in India, together with journalists, had been reeled into a web based rip-off, providing them dream jobs at Harvard University. But who focused them, and why, stays a thriller.
ARTS AND IDEAS
As Lindsay Zoladz writes in The Times, “A bit of cultural flotsam from the last 25 years would suddenly drift back up to the top of our collective consciousness and spread wildly, demanding renewed attention in the context of the present.”
Beyond the previous quarter-century, different tasks helped shine a lightweight on neglected items of historical past. The documentary “Summer of Soul” launched new viewers to the Harlem Cultural Festival, live shows carried out by Nina Simone, Stevie Wonder and others in 1969 because the Black Power motion grew more and more outstanding.
“The lesson to be taken from all these reconsiderations is not necessarily how much wiser we are now,” Lindsay writes, “but how difficult it is to see the biases of the present moment.”
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That’s it for at the moment’s briefing. Have a peaceable weekend. — Natasha
P.S. Kara Swisher, the host of “Sway,” an interview present by The Times, talked to Women’s Wear Daily about making podcasts.
The newest episode of “The Daily” is about America’s abortion struggle.
Sanam Yar wrote at the moment’s Arts and Ideas. You can attain Natasha and the workforce at briefing@nytimes.com.