CEOs' economic outlook hit the highest level in at least 20 years. But Omicron could change that

Despite rising labor costs, America's business leaders felt very bullish on the US economy — at least in the days prior to the emergence of the Omicron coronavirus variant.

The influential trade group the Business Roundtable said Wednesday its CEO Economic Outlook Survey rose during the fourth quarter to the highest level in its 20-year history, surpassing even the lofty levels seen after the enactment of President Donald Trump's tax cuts in late 2017.

Nearly half, 48%, of the CEOs surveyed identified labor expenses as the greatest cost pressure facing their businesses right now.Omicron could 'put a damper on things' Bolten acknowledged the Omicron variant has the potential to disrupt the economic recovery, but he said it's too early to say for sure."If it does turn out to be as dramatic a shift as the Delta variant was, that will definitely put a damper on things," Bolten told reporters at the DC press conference.

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