Boston Fed President Signals Potential Interest Rate Hike Amid Inflation Concerns
In a recent statement, the Federal Reserve Bank of Boston President, Susan Collins, suggested that further increases in interest rates might be necessary depending on incoming data. This follows the release of the meeting minutes from the Fed’s September gathering, where officials discussed the possibility of raising rates again, despite cooling inflation pressures. The potential for higher rates comes as the central bank continues to grapple with the economic effects of the ongoing pandemic and the challenges of maintaining economic stability.
Collins emphasized the need for the central bank to maintain rates at restrictive levels until there is evidence of sustained inflation. Additionally, she highlighted the importance of patience in decision-making and risk management, given the potential economic impacts of a tighter policy. “Further tightening could be warranted depending on future information,” Collins noted, indicating the need for a cautious and data-driven approach to monetary policy.
Economic Resilience in the Face of Fed Action
Despite the potential for tightening policy, Collins noted that the U.S. economy has shown remarkable resilience. She expressed optimism that price stability can be achieved with a “soft landing,” suggesting that a modest increase in the unemployment rate could be a part of this process. Her comments reflect the delicate balance central banks must navigate between stimulating economic growth and preventing runaway inflation.
The Historical Context of Interest Rate Decisions
The Federal Reserve’s decisions on interest rates have long been a critical tool for managing the U.S. economy. By adjusting the cost of borrowing, the Fed can either stimulate economic activity or cool it down to prevent overheating. Over the years, the central bank has had to navigate numerous economic crises, from the inflationary pressures of the 1970s to the financial crisis of 2008. Today, the challenges posed by the COVID-19 pandemic represent a new form of economic turbulence requiring careful management.
Future Implications for Stakeholders
The potential for higher interest rates has significant implications for various stakeholders. For borrowers, it could mean higher costs for loans, including mortgages and credit card debt. On the other hand, savers and investors might see higher returns. Businesses, particularly those reliant on borrowing, could face increased costs, impacting their profitability and potentially leading to job losses. As such, the Fed’s decisions on interest rates will be closely watched by households, businesses, and financial markets alike.
Al-Sadr warns Biden against Middle East encroachment, calls for aid to Gaza, 13 OCT
Shafaq News / During today’s Friday prayer sermon delivered by cleric Muhannad al-Musawi on behalf of Muqtada al-Sadr, the leader of the Sadrist Movement, al-Sadr issued a warning to US President Joe Biden regarding the continued "encroachment" into the Middle East to support Israel. He called on Iraqis to gather aid and send it to the besieged Gaza Strip through Syria or Egypt.
The sermon took place in Baghdad's Tahrir Square amidst a gathering of supporters of the Movement who are aligned with the Palestinian cause.
Addressing President Biden, al-Sadr stated, "Your encroachment into the Middle East will result in unexpected reactions, not from the submissive but from the Palestinian fighters and their supporters, as well as all Arab and Islamic nations ready to make great sacrifices. We await a sign from the faithful and righteous warriors, not from the corrupt and appeasers."
Al-Sadr also called upon peaceful protesters in Iraq to prepare a "Caravan of the flood" filled with food and water, stating, "Hopefully, we can deliver it to our people in Gaza after coordinating with Syria or Egypt. If we cannot, it will be a shame on the history of Islam and the Arab world."
[via Babysmom] ..."WE WERE TOLD ON WEDNESDAY TO LOOK TOWARDS MONDAY...THAT TIMETABLE HAS BEEN SHORTENED...CONSIDERABLY"
Clare
Article "The Prime Minister confirms Iraq's readiness to join the BRICS group"
Quote “Iraq is ready to join the BRICS group if it receives an invitation from the founding countries, noting that Iraq understands the role played by the group and is aware of the conditions and specifications for joining it"
Article: "For the second day...the dollar continues to decline against the Iraqi dinar”
Welcome, everybody to the big call tonight is Thursday, October 12. And you're listening to the big call. Thanks for tuning in wherever you're located all around the globe. We hope we're getting out to a couple 100 countries or so. And hopefully you're listening to us, either in English or in a language of your choosing. Meeting your own native language, our software is designed to instantaneously translate what I'm saying in about three seconds, you'll get the translation in your own language. So hopefully that's working well tonight and we're getting out and welcome to the call itself. Let's pray the call in
Let's take it from here and jump into the Intel.
Jeanne prompted me on something I was going to bring up and that was, she mentioned, you know, she hopes that the Brunson case goes in our favor. It goes well, and I believe it will. I'm hearing that it will. And today's and tonight's Intel is not going to take that long.
We've got a couple of things to talk about. But most of it you know, already from Tuesday night's call, but I'll recap a little bit for us. It will tell us where we stand right now in preparation.
I told you Tuesday we're looking for some things with political change.
That's still in the offering. I talked to you about some Speaker of the House which I predicted with the Jim Jordan. I believe my I don't want to call it prediction what I said that I had heard about that is still going to be true. There may be saw where Steve Scalise was leading and had more votes and all this. Well he dropped out of that race for speaker.
So that pulls him out even though it looked like he was going to be the speaker Steve Scalise is a great guy, and we're praying for his cancer to be completely and totally healed.
But it seems like Jim Jordan is going to get it and get the Speaker of the House and that should get announced. I don't think it's been announced yet but it should possibly tomorrow.
Now. We're looking for possibly four or five things to happen that are in our favor between now and midnight, Friday night - that's tomorrow, between now and midnight Friday night.
(Some Political info skipped over here per Dinar Recaps guide lines)
Now, those are four of the things what's the fifth thing, I guess, are looking at?
That's right, not only for us but the bondholders to receive their emails with them receiving access to funds. And for us to receive our emails to get the toll free number to call - to set our appointment to begin our exchange and redemption of Zim – that is everything that we're looking to happen. It could happen almost at the same time. It could occur on the Emergency Alert System, the Emergency Broadcast System, the emergency wireless system, okay, which is which is a new one for us. Those things and it could become a first fruits of disclosure.
I think we're going to hear quite a few things about what we've been looking for - we want to get the truth about what really happened in Ukraine, and I believe that has been prepping and getting that ready to share with everybody.
There was a situation where the Iron Dome was hacked In Israel, or I understand for only about 30 minutes and bombs flew in from Hamas. and yes, there were fatalities. and remember, I'm not gonna say what it is because I approve it. but it looked like it was it was not good. Not good at all.
Now, my understanding is that before, GESARA kicks in, which we expect very shortly. We need to be at peace.
There might be some minor border disputes, something like that, but war. I think country against country – nation against nation - It's not supposed to be happening.
The all countries of the world signed off on GESARA and agreed to that, essentially to a truce of no more war. Let's see how that manifests. Right now. It doesn't like that could happen this week. We've got to see how this comes together and in my opinion with a political change that would follow..
We'll see what happens. I am looking forward to hearing something – initially , or anytime after 4pm today or 4pm, tomorrow, Friday, from our sources, that time from now, to make it possible because as you guys know, Targets can change and we get new Intel that sometimes invalidates the old Intel or it changes it - morphs it – changes and brings it into a different perspective .
With bonds being handled out of Reno and out of Miami in the United States, those two cities only - We do have 38000 bond holders that are being processed from a couple of days ago, started another 10 or 12 days for them to finish the bond holder process, getting the bond holders the liquidity that comes with the sale of the bonds. And that is inflex and moving. Now we don't have to wait for the bond holders to finish - 10-12 days - I understand that is the case –
So we believe our start is imminent we believe that most of the bond holders have been processed already - will get their emails – hopefully by midnight and we,ve been told to keep specifically to keep an eye on and watch for the emails for us – between now and then - keep an eye on them --
They've already cleaned up quite a bit of bond holders , that weren’t worthy of receiving for some reason. I don’t know what the reasons were – they were not worthy of receiving the funds they had received or were about to and they have them pulled back - and it's a substantial amount that has become the property of our new United States Treasury which by that just like that alone is ultra loaded.
Don't ever worry about where’s the money coming from for all of this. It's there in spades.
I am very pleased about that. It's not that this is fun. If Bond holders were not perceived absolutely convinced that the bond sellers were legitimate, that the price of the bonds was correct - and that it is going to rightful owners that have good intentions in mind.
So I'm excited about that for them. I'm excited about us getting started because there's a lot that we intend to do. As you guys know, with a project Sue has helped the big call universe with 25 or 30,000 different projects, some of which will be similar to follow the same track, others will be completely different. So that'll all get sorted out.
And I think we have some ideas on how to make all that work collaboratively throughout the country and internationally. And so we're excited about beginning all this now, before we get too far long. You guys know that this is going to change a lot of things like Sue mentioned this night In her segment.
There are a lot of things that will be new living systems. There'll be new technologies, and there'll be some things that we're going to have to adapt to. some things will be coming that we might not know anything about. But that technology that innovation - those designs, the design, thinking everything that we're going to do is going to be beneficial for us and we believe for humanity at large.
We're looking very seriously for what should be occurring according to our best sources between now and midnight tomorrow night, Friday night. Let's see what happens. Let's see what manifests and that's what we're expecting. That's what we're looking forward to.
So beyond that, you know, I told you guys that we're going to keep the redemption center appointment times try to get them to 30 minutes and 40 minutes, which is what we had up until last week and we were told 30 minutes they're going to try it's going to be in and out. In and out over and done.
Because there's no time for speeches and talks. You'll have I'm gonna say five, eight minutes for your presentation. Take five minutes think five minutes to present quickly an outline form of your presentation. And that's the way to do it. And you will be asked to leave a copy of what you plan to do with your projects. Leave a copy with the redemption center staff. So they can go through that. They can compare it they can put it to the computer, and so on and so forth.
So there's a lot that we're looking forward to that needs to happen if we're going to receive everything that we anticipate by the end of tomorrow night midnight. So let's just stay a prayer for that. Let's pray it out and see what occurs .
The Minister of Oil discusses with "Gazprom" the development of the oil and energy industry in Iraq
10/13/2023
Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani met in Russia with Alexander Dyukov, Chairman of the Board of Directors of Gazprom Neft, and a number of company officials, in the presence of the Russian Ambassador to Iraq, Elbrus Kotrachev.
The Iraqi Oil Ministry said in a statement on Friday that the prospects for bilateral cooperation were discussed during the meeting
Ways to develop joint projects in a way that contributes to the development of the oil and energy industry in Iraq and serves common interests.
This meeting comes on the sidelines of the official visit by the Deputy Prime Minister for Energy Affairs and Minister of Oil to the Republic of Russia, according to the statement. LINK
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Deputy expects the dollar to decline within a few days
The representative of the State of Law coalition, Arif Al-Hamami, expected today, Friday, that the exchange rate of the US dollar against the Iraqi dinar will decrease during the next few days.
Yesterday, Thursday, the dollar prices were recorded at the Al-Kifah and Al-Harithiya stock exchanges, 160,400 dinars for 100 dollars, according to Shafaq News Agency correspondent, while the selling price in the exchange shops in the local markets in Baghdad reached 161,500 Iraqi dinars, while the purchase amounted to 159,500 dinars for every 100 dollars.
As for Erbil, the selling price of the dollar in banking shops was 160,400 dinars, compared to 100 dollars, and the purchase price was 160,300 dinars, compared to 100 dollars.
Al-Hamami said in an interview with Shafaq News Agency, “The State of Law bloc seeks in all ways and urges the government to take the necessary measures to reduce the exchange rate of the dollar, because of its direct impact on the people, especially the poor and middle classes.”
Al-Hamami confirmed that “there are ongoing communications with the government, the Central Bank, the Prime Minister’s Office, and the Parliamentary Finance Committee in this regard.”
He added, "Government measures are continuing to reduce the dollar, including preventing smuggling outlets and opening outlets to sell the dollar at airports, but there are external circumstances that put pressure on the government, and the global situation also has an impact on the status of the dollar in Iraq."
He explained, "Previously, the dollar rose more than the current price and then fell again, so we hope that the dollar exchange rate will decrease during the next few days." link
AN ECONOMIC EXPERT IDENTIFIES 5 REASONS FOR THE CONTINUOUS RISE OF THE DOLLAR AND THE FALL OF THE DINAR IN IRAQ, 13 OCT
Today, Tuesday (October 10, 2023), economic expert Nabil Al-Marsoumi made observations about the decline in the value of the Iraqi dinar compared to the US dollar in the “black” parallel markets, specifying (5) reasons for the occurring fluctuation.
Al-Marsoumi said in a post on Facebook, followed by “Baghdad Today”, and commenting on the measures to control exchange rates, that “The Central Bank of Iraq wants to ban cash and support electronic payment, as private banks use the cash they buy from the Central Bank to finance trade with Iran.” And Syria.”
Regarding granting the dollar to travelers, he explained that “it does not reach them, so the demand for the cash dollar increases,” indicating that “the current exchange rate crisis is not only monetary and technical, but is essentially a political and economic crisis, and those who believe and promote that the general level of prices are not affected by the rise in the parallel dollar are delusional.”
Earlier today, Tuesday (October 10, 2023) , economic affairs expert Nasser Al-Kanani warned that the dollar exchange rate would exceed the barrier of 200 thousand dinars.
Al-Kinani said in an interview with “Baghdad Today” that “if the dollar exchange rate continues to rise without real measures, the price will exceed 200 thousand at the end of this year.”
He added, “This is because the government and the central bank continue to take ill-considered decisions.”
Yesterday, Monday, the Parliamentary Finance Committee revealed its move to investigate the Jordan National Bank’s acquisition of 70% of the currency selling window in Iraq.
Committee member Moeen Al-Kazemi told Baghdad Al-Youm, “The Parliamentary Finance Committee will move to investigate the issue of the Jordan National Bank’s acquisition of 70% of the currency selling window, and we will work to host officials at the Central Bank in order to follow up on this file.”
Al-Kadhimi stated, “The government and the Central Bank are still working to launch reform packages in order to control the rise in dollar prices and end the difference in the dollar exchange rate in the parallel market, and the coming days may witness the launch of new reform packages.”
