• I do not want to cancel a trip like that again   

Excerpt from Yahoo

Americans are preparing to spend big - again - as omicron cases subside and states across the country loosen covid restrictions.

Travel agents, hotel operators and restaurateurs say they've seen dramatic spikes in demand in the past week, following a drop of more than 40 percent in daily U.S. coronavirus cases and spates of warmer weather in some parts of the country. People are booking spring break trips and summer vacations. They're splurging on Disney vacations, private tours of Hawaii and cruises to Antarctica.

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Unlike earlier in the crisis, when it seemed the pandemic would end with a celebratory boom, the reality has been more uncertain and filled with fits and starts. Many say that's given them a sense of urgency to lock in "revenge travel" during this window of relative calm before it possibly disappears again. And though the Food and Drug Administration has delayed a decision on a vaccine for children under 5, families are holding their breath and booking anyway.

"People really want to make sure they travel while they can," said Mark Matthews, marketing manager for Maui Seasons, a private tour company in Hawaii where bookings are up 65 percent so far this year. "Who knows when the next strain is going to come and what it's going to look like? Everything is so unknown."

Pandemic patterns show that consumers rush out after each coronavirus wave, eager to splurge on flights, hotels, amusement parks and other services they had forgone.

That surge in spending was most evident last summer, when households were emboldened by a lull in coronavirus infections and widespread vaccine availability. Subsequent rebounds have been less pronounced, though economists say they still provide a notable jolt to the economy.

This time around, the expected burst of spending comes just as the Federal Reserve prepares to raise interest rates to slow inflation, fueled by consumer demand that is widely seen as unsustainable. Prices are rising at the fastest rate in 40 years, which Fed officials have said is the biggest threat to the economic expansion.

A new wave of spending could further complicate the Fed's plans while also raising broader questions about whether restaurants, hotels and airlines - which are already struggling to find enough workers - will be able to staff up in time to meet demand. Addressing worker shortages, leisure and hospitality employers raised wages an average 14 percent last year, making it the only sector where wage growth outpaced inflation.

Economists say it remains to be seen just how sustained or widespread a spring spending boom may be. Unlike in previous reopening surges, there are no government stimulus checks or extra child tax credit payments padding Americans' bank accounts. And while the economy continues to add jobs, wage growth has been largely eclipsed by inflation.

"I do expect things to bounce back, but in a broader context, spending has already been very strong," said Mark Zandi, chief economist at Moody's Analytics. "Omicron dented the economy but did less damage than previous waves."

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