Looking Ahead To Fed Meeting, Omicron Impact On 'Briefing With Brent'

It’s Monday on PreMarket Prep Plus, so that means it’s time for a “Briefing With Brent.” Brent Slava has been the head of the Benzinga Pro newsdesk since 2013 and has helped investors, big and small, navigate the financial markets through their ups and downs.

Federal Reserve Meets Next Week: At the top of Monday’s segment, Slava addressed what is on every investor's mind and that is the increasing rate of inflation and the Federal Reserve's response to it.

He acknowledges the tough double mandate for the Fed: stimulating growth and fighting inflation Along these lines, Slava said the explosion of the assets going into cryptocurrencies makes the mandate even more difficult to manage.

Nevertheless, Fed Chair Jerome Powell made it clear last week the Fed will get more aggressive in fighting inflation. Slava is looking to next week’s meeting for more clarity and what that actually means moving forward.

Omicron Variant: There is doubt the outbreak of the COVID-19 omicron variant had added to the skittishness of the market over the past week Although it is too early to draw any concrete conclusions, Slava said he was encouraged by the newsflow over the weekend.

He cited two positives that may be harbingers of things to come. The first one is that COVID-19 antiviral pills will be coming in the U.S., which could lower hospitalization rates.  

Slava noted anecdotal reports from doctors in South Africa that the omicron variant could cause milder symptoms. The South African doctor who first spotted the virus said she has seen "extremely mild" symptoms among her patients.

Certainly, Slava’s optimistic view is being shared by investors as of Monday afternoon's trading action. 

Heads Up: In view of the recent volatility in the cryptocurrency market, Slava commented on what be a catalyst — up or down — for the sector this week.
Cryptocurrency execs will be testifying in Washington, D.C. Wednesday and Slava will be watching for market-moving commentary. 

The full discussion with Brent Slava from Monday’s PreMarket Prep Plus broadcast can be found here: