{"id":73868,"date":"2022-03-02T16:00:16","date_gmt":"2022-03-03T00:00:16","guid":{"rendered":"https:\/\/www.cogwriter.com\/news\/?p=73868"},"modified":"2022-03-04T05:56:51","modified_gmt":"2022-03-04T13:56:51","slug":"powell-tells-congress-that-fed-will-raise-rates-this-month-central-banks-feared-inflation-but-now-confront-spectre-of-stagflation","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/powell-tells-congress-that-fed-will-raise-rates-this-month-central-banks-feared-inflation-but-now-confront-spectre-of-stagflation\/","title":{"rendered":"‘Powell tells Congress that Fed will raise rates this month’ ‘Central banks feared inflation but now confront spectre of stagflation’"},"content":{"rendered":"

\u00a0\"\"c
\nJerome Powell
\n(Wikipedia)
\n<\/em><\/p>\n

COGwriter<\/a><\/p>\n

The head of the US Federal Reserve says the Fed will raise interest rate this month:<\/p>\n

\n

Powell tells Congress that Fed will raise rates this month<\/h2>\n

March 2, 2022<\/p>\n

WASHINGTON (AP) \u2014 Federal Reserve Chair Jerome Powell made clear Wednesday that the Fed will begin raising interest rates this month in a high-stakes effort to restrain surging inflation.<\/p>\n

In prepared testimony he will deliver to a congressional committee, Powell cautioned that the economic consequences of Russia\u2019s invasion of Ukraine are \u201chighly uncertain.\u201d He says the Fed will \u201cneed to be nimble\u201d in responding to unexpected changes resulting from the war<\/a> or the sanctions that the United States and Europe have imposed in response.<\/p>\n

The Fed is widely expected to raise its benchmark short-term interest rate several times this year beginning with its March 15-16 meeting.<\/p>\n

A rate hike next month would be the first since 2018. And it would mark the beginning of a delicate challenge for the Fed: It wants to increase rates enough to bring down inflation, which is at a four-decade high, but not so fast as to choke off growth and hiring. …<\/p>\n

Powell acknowledged that consumer price increases have jumped far above the Fed\u2019s target of 2% \u2014 inflation hit 7.5% in January compared with a year earlier <\/a> \u2014 and that higher prices had persisted longer than expected.<\/p>\n

\u201cWe understand that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials like food, housing, and transportation,\u201d the Fed chair says in his testimony to the House Financial Services Committee on the first of two days of semiannual testimony to Congress. https:\/\/apnews.com\/article\/business-united-states-inflation-jerome-powell-congress-719fda925333df075d25925429dfc1b3<\/a><\/p>\n<\/blockquote>\n

Some are concerned that raising interest rates in view of what is happening now with Russia and Ukraine may push world economies into stagflation:<\/p>\n

\n

Central banks feared inflation but now confront spectre of stagflation<\/em><\/h2>\n

2 March 2022<\/p>\n

The Russian invasion of Ukraine and the West\u2019s unprecedented response to it have added new complications to the already-complex decisions the world\u2019s two key central banks were confronting as their economies emerged from the pandemic.<\/p>\n

The courses for the US Federal Reserve and the European Central Bank (ECB) had appeared set.<\/p>\n

With economic growth strengthening and inflation rates fuelled by global supply chain disruptions and shortfalls in supply relative to the surprising strength of demand \u2013 shortfalls most evident in soaring oil and fuel prices \u2013 both the Fed and ECB were about to start raising their interest rates<\/a>. …<\/p>\n

The extent of inflation within their economies \u2013 7.5 per cent in the US and 5.6 per cent in Europe \u2013 handcuffs them. More ultra-cheap liquidity would only fuel more inflation.<\/div>\n
\n

It also complicates how they respond to the economic effects of the invasion and sanctions.<\/p>\n

Russia\u2019s role as the world\u2019s third largest oil producer, the significance of the combination of Ukraine and Russia to grain markets \u2013 nearly 30 per cent of all wheat exports, 75 per cent of global sunflower oil exports and key exporters of corn \u2013 and Russia\u2019s importance in markets for metals like aluminium, nickel, palladium and titanium is causing sharp rises in the prices of all those commodities. …<\/p>\n

The world\u2019s central banks face the spectre of continuing high inflation rates and an abrupt slowing of economic growth. That was the combination that produced stagflation during the OPEC oil embargo in the 1970s.<\/p>\n

Whether we get stagflation \u2013 high inflation and no economic growth \u2013 or just a slowing of growth while inflation rates remain high, the invasion will cause the central banks to rethink the courses of their policies for the rest of this year.<\/p>\n

The threat of stagflation is unlikely to change the direction of monetary policies, given how elevated inflation rates were even before the invasion, but will probably change their pace. https:\/\/www.smh.com.au\/business\/banking-and-finance\/central-banks-feared-inflation-but-now-confront-the-spectre-of-stagflation-20220302-p5a0vu.html<\/a><\/p>\n

The euro zone could be vulnerable to stagflation in the wake of the Russian attack on Ukraine, according to European Central Bank Governing Council member Mario Centeno.<\/p>\n

\n
The Portuguese governor, speaking in an interview in Lisbon on Monday, said he favors continuing the monetary policy \u201cnormalization\u201d flagged by officials in recent weeks, though he acknowledged that the conflict could yet impact how that materializes.<\/div>\n<\/div>\n

\u201cI am convinced that the traction of growth that the economy was following will prevail,\u201d Centeno said. Still, \u201ca scenario close to stagflation is not out of the possibilities that we can face. So we need to adjust our policies to that.\u201d<\/p>\n

The governor, a former Portuguese finance minister who used to lead meetings of his euro-region counterparts, spoke as the ECB prepares for a major decision on March 10. Policy makers have been preparing to wind down bond purchases in the face of record inflation, a task now complicated by the economic impacts of war and sanctions. 02\/28\/22 https:\/\/finance.yahoo.com\/news\/ecb-centeno-t-rule-stagflation-110003164.html<\/a><\/p>\n<\/div>\n<\/blockquote>\n

So, the view is that although stagflation is bad, because of rising inflation, it looks to come and will have to be tolerated.<\/p>\n

If governments would not have printed up so much debt money for political and other reasons, inflation would not be as much of an issue. But because many have, stagflation is more and more seen as likely.<\/p>\n

Notice the following:<\/p>\n

\n

What is Stagflation?<\/h2>\n

Stagflation is an economic event in which the inflation rate<\/a> is high, economic growth rate slows, and unemployment<\/a> remains steadily high. Such an unfavorable combination is feared and can be a dilemma for governments since most actions designed to lower inflation may raise unemployment levels, and policies designed to decrease unemployment may worsen inflation. accessed 03\/02\/22 https:\/\/corporatefinanceinstitute.com\/resources\/knowledge\/economics\/stagflation\/<\/a><\/p><\/blockquote>\n

So, stagflation is inflation without growth.<\/p>\n

But that is not the only problem, increased interest rates will lead to increased debt as well for the USA. One day this will cause a destructive vicious circle that the US economy will not get out of.<\/p>\n

I warned earlier this year about the prospect of stagflation (see Supply chain, inflation, stagflation?<\/a>).<\/p>\n

We now look set for at least some of that to happen.<\/p>\n

This will harm many in the USA and around the world.<\/p>\n

Furthermore, Jerome Powell pointed to a policy that will harm the USA:<\/p>\n

\n

Fed Chief Powell Says It\u2019s Possible to Have More than One Reserve Currency in the World \u2013 Diminishing the US\u2019s Dominance in the World<\/h2>\n

March 2, 2022<\/p>\n

Jerome Powell is planning on raising interest rates this month from the zero percent that Democrats have benefitted from in the White House this century.\u00a0 …<\/p>\n

Fed Chief Jerome Powell also shared the potential to have more than one reserve currency in the world.\u00a0 This is a shocking statement coming from the head of the Fed.<\/p>\n

The US has benefitted from having the reserve currency of the world. https:\/\/www.thegatewaypundit.com\/2022\/03\/fed-chief-powell-says-possible-one-reserve-currency-world-diminishing-uss-dominance-world\/<\/a><\/p><\/blockquote>\n

Sure it is possible to have more than one reserve currency, but the current order is highly benefiting the USA. The economic ramifications of the USA losing its status are huge.<\/p>\n

Another risk that the USA itself is facing is because of stopping Russian banks out of the SWIFT financial system (see US, EU, UK agree to remove selected Russian banks from SWIFT<\/a>), Russia will feel forced to use more alternatives to the USA dollar for its international trade.<\/p>\n

That, in turn, will reduce the international value of the USA dollar as the world’s premier reserve currency, and of itself, will also be a factor in inflation for those who live in the USA.<\/p>\n

Some items of possibly related interest may include the following:<\/em><\/p>\n

Might the U.S.A. Be Gone by 2028?<\/a> Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God\u2019s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it.<\/span> Here is a link to a related video: Is the USA prophesied to be destroyed by 2028?<\/a> In Spanish: Seran los Estados Unidos Destruidos en el 2028?<\/a>
\nFour Horsemen of the Apocalypse<\/a> What do each of the four horseman of the Apocalypse represent? Have they began their ride? Did Jesus discuss the any of this? Might their rides coincide with the \u201cbeginning of sorrows? Do they start their ride prior to the Great Tribulation? Did Nostradamus or any other \u2018private prophets\u2019 write predictions that may mislead people so that they may not understand the truth of one or more of the four horseman? There is also a related YouTube video titled Sorrows and the Four Horsemen of the Apocalypse<\/a>.
\nThe End of US Dollar Dominance<\/a> Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan<\/a>.
\nWho is the King of the West?<\/a> Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: \u00bfQui\u00e9n es el Rey del Occidente? \u00bfPor qu\u00e9 no hay un Rey del Occidente en la profec\u00eda del tiempo del fin?<\/a> A related sermon is also available: The Bible, the USA, and the King of the West<\/a>.
\nWho is the King of the North?<\/a> Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand<\/span>? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out \u00bfQui\u00e9n es el Rey del Norte?<\/a> Here are links to two related videos: The King of the North is Alive: What to Look Out For<\/a> and The Future King of the North<\/a>.
\nUSA in Prophecy: The Strongest Fortresses<\/a> Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does.<\/span> Two related sermon are available: Identifying the USA and its Destruction in Prophecy<\/a> and Do these 7 prophesies point to the end of the USA?<\/a>
\nGentile Cryptocurrency Proposal <\/a> Two Russian leaders have called for a BRICS-wide and\/or EAEU-wide cryptocurrency. This is hoped to be used to replace the US dollar for international trade. BRICS stands for Brazil, Russia, India, China, and South Africa. The BRICS nations represent 3.6 billion people. The EAEU includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Will Gentiles rise up? Are there any prophetic ramifications of what these nations are looking to do? This is a video.
\nThe Times of the Gentiles<\/a> Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles<\/a>.<\/span>
\nEliminate the $100 bill?<\/a> Various ones, like Harvard economist and Trilateralist Larry Summers have called for the elimination of the USD$100 bill and the 500 Euro note. In Asia, South Korea is heading towards cashlessness by 2020. Electronic currencies are information and subject to monitoring. Did something God inspired the Apostle John over 1900 years ago now able to come to pass? This is a video.
\nThe \u2018Peace Deal\u2019 of Daniel 9:27<\/a> This prophecy could give up to 3 1\/2 years advance notice of the coming Great Tribulation. Will most ignore or misunderstand its fulfillment? Here is a link to a related sermon video Daniel 9:27 and the Start of the Great Tribulation<\/a>.
\nCollapse of the Euro and Dollar? War in 2020?<\/a> Larry Edelson of Money and Markets<\/em> described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the \u2018granddaddy of all cycles\u201d? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
\nEuropa, the Beast, and Revelation<\/a> Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about \u201cthe Beast\u201d? Is an emerging European power \u201cthe daughter of Babylon\u201d? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?<\/a>
\nWhen Will the Great Tribulation Begin? 2022, 2023, or 2024?<\/a> Can the Great Tribulation begin today? What happens before the Great Tribulation in the \u201cbeginning of sorrows\u201d? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: \u00bfPuede la Gran Tribulaci\u00f3n comenzar en el 2020 o 2021? \u00bfEs el Tiempo de los Gentiles?<\/a> A related video is: Great Tribulation: 2026 or 2027?<\/a> A shorter video is: Can the Great Tribulation start in 2022 or 2023?<\/a> Here is a video in the Spanish language: Es El 2021 el a\u00f1o de La Gran Tribulaci\u00f3n o el Grande Reseteo Financiero<\/a>.
\nDoes God Have a 6,000 Year Plan? What Year Does the 6,000 Years End?<\/a> Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2029 or 20xx? There is also a video titled 6000 Years: When will God\u2019s Kingdom Come?<\/a> Here is a link to the article in Spanish: \u00bfTiene Dios un plan de 6,000 a\u00f1os?<\/a>
\nThe Plain Truth About Gold in Prophecy. How Should a Christian View Gold?<\/a> What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation\/deflation? What do Christians need to know about gold?
\nAnglo \u2013 America in Prophecy & the Lost Tribes of Israel<\/a> Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-Am\u00e9rica & las Tribus Perdidas de Israel<\/a>. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter?<\/a><\/span> and British are the Covenant People<\/span><\/a>. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?<\/a>
\nWill the Anglo-Saxon-Celtic Nations be Divided and Have People Taken as Slaves?<\/a> Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? <\/a> Here is a related item in the Spanish language \u00bfSer\u00e1n divididas las naciones anglosajonas?<\/a>
\nIs God Calling You?<\/a> This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU?<\/a> and Predestination and Your Selection<\/a>. A short animation is also available: Is God Calling You?<\/a>
\nChristian Repentance<\/a> Do you know what repentance is? Is it really necessary for salvation? Two related sermons about this are also available: Real Repentance<\/a> and Real Christian Repentance<\/a>.<\/span>
\nWhen You Sin: Do You Really Repent? <\/a>This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent<\/a>.
\nJust What Do You Mean \u2014 Repentance?<\/a> Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong<\/a> wrote this as a booklet on this important subject.
\n<\/b>The Gospel of the Kingdom of God<\/a> This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to four related sermons: The Fantastic Gospel of the Kingdom of God!<\/a>, The World\u2019s False Gospel<\/a>, The Gospel of the Kingdom: From the New and Old Testaments<\/a>, and The Kingdom of God is the Solution<\/a>.
\nBiden-Harris: Prophecies and Destruction<\/a> Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available and you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon \u0019s Free<\/strong> Reader Apps<\/a>. After you go to your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle)<\/a> to get the book in seconds.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0c Jerome Powell (Wikipedia) COGwriter The head of the US Federal Reserve says the Fed will raise interest rate this month: Powell tells Congress that Fed will raise rates this month March 2, 2022 WASHINGTON (AP) \u2014 Federal Reserve Chair Jerome Powell made clear Wednesday that the Fed will begin raising interest rates this month […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-73868","post","type-post","status-publish","format-standard","hentry","category-prophecy"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/73868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/comments?post=73868"}],"version-history":[{"count":6,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/73868\/revisions"}],"predecessor-version":[{"id":73897,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/73868\/revisions\/73897"}],"wp:attachment":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/media?parent=73868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/categories?post=73868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/tags?post=73868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}