Any stimulus should be wound down before the end of March, says a report from federal parliamentary budget officer Yves Giroux
Jobless rate, unemployed population remain above pre-pandemic levels
Wages also rose sharply in December, with average hourly pay jumping 4.7%
Omicron could push up the jobless rate this month
Inflation, economic recovery and job market seen to be driving the Fed
The U.S. economy still remains under threat from a spike in inflation, shortages of labour and supplies
Declining unemployment and rising job vacancies could lead to worsening labour shortages or skill mismatches
The job market is improving even as hiring has slowed in the past two months
Labour markets have yet to return to pre-pandemic levels
The highly contagious delta variant may be slowing the recovery in jobs