De todo un poco!
The chairman of the United States Federal Reserve said Wednesday he will support an interest rate hike of 25 basis points at this month’s meeting of the central bank’s monetary policy-making body.
Jerome Powell made those remarks to the US House of Representatives’ Committee on Financial Services, saying he continues to support tighter credit conditions despite Russia’s invasion of Ukraine.
Interviewed credits:
Erles Espinosa – Director of Fonvivienda
RPTV NEWS AGENCY team:
Journalist: Edgar Ramirez
Camera and Edition: Oscar Cavadia
BOGOTA COLOMBIA). Wednesday, February 9, 2022 (RPTV NEWS AGENCY). Close to half a billion pesos add up to the alerts from the Comptroller General of the Republic for free housing projects that have delays.
More than 21,000 people have been affected because the Free Housing Program (PVGII), aimed at delivering Priority Interest Housing (VIP) as a 100% Family Housing Subsidy in Kind (SFVE) to the vulnerable beneficiary population, It has not handed over their homes to the families who accessed the benefit.
These projects exceed $455 billion, the director of Fonvivienda, Erles Espinosa, promised to deliver the homes promptly.
“The idea is that they be before August 2023, but we are going to deliver around 4,500 homes this year, closing next year with 3,000 pending,” he said.
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MANAGING DIRECTOR
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2021
Carlos Deutsch does not explain how they could get him out of his bank accounts 70 million pesos, despite always keeping his cards with him. It happened to him in December and this Friday he decided to make the event public from Barranquilla.
(Also read: Christian Daes and other celebrities who sympathized with the ‘Alligator Man’)
According to the complaint he filed with the Prosecutor’s Office, some people spoofed his identity and in a matter of three days spent making advances on his two credit cards and shopping at a city mall.
For three days they were doing these operations, 15 daily ATM withdrawals of 600,000 pesos each.
The value of the first maneuvers was around 27 million pesos, while the last equals 45 million of weights.
“For three days they were doing these operations, 15 daily ATM withdrawals of 600,000 pesos each, that is, every day they took out 9 million,” the 71-year-old man told Blu Radio.
The victim added that at that time he did not take off his cards, but he was not able to receive notifications of these movements, since days before he had suffered the steal your line telephone in the country’s capital.
(You may be interested in: Young man denounces that he was a victim of sexual assault on a Barranquilla bus)
They charge fees of 6 million pesos
The pensioner told that medium that the telephone number at his service passed into the hands of third parties without authorization and both the sim card and the telephone were out of operation.
After knowing what happened, he said that he filed the complaint with the corresponding authorities, which carried out the investigation. At once, questioned the bankbecause “it does not investigate, but charges with interest” and makes it responsible for the payments for legal collection.
Now, Deutsch’s request is for the bank to suspend charges for installments of up to 6 million pesos per month, while the Prosecutor’s Office continues with the process.
BARRANQUILLA
More content from Colombia:
– Fires and bees, most frequent emergencies during January in Cartagena
– Two councilors imprisoned in Cartagena so far this year, but they do not resign
– Álvaro Lemmon, from famous comedian to sell backpacks in Santa Marta
Wednesday’s signal from the U.S. Federal Reserve on impending interest rate increases is expected to have ramifications beyond America’s shores.
The Fed’s Open Market Committee announced it was keeping, for now, the target range for a key interest rate at near zero but cautioned that with inflation well above 2% and a strong labor market, it expected “it will soon be appropriate to raise the target range for the federal funds rate.”
The federal funds rate is the interest rate commercial banks charge each other for overnight loans of their excess reserves.
“The committee is of a mind to raise rates at the March meeting,” Fed Chairman Jerome Powell told reporters Wednesday. “We have our eyes on risks around the world, but the economy should hold up.”
As the dollar serves as the primary international reserve currency, a U.S. interest rate hike would pressure central banks of other countries to also raise their rates for those who want to borrow money.
“The rest of the world has a lot of dollar debt, and even if their debt is in local currencies, their central banks will often have to raise interest rates to offset the U.S. rate increases to try to maintain some currency stability,” said Gerard DiPippo, senior fellow with the economics program at the Center for Strategic and International Studies.
“Raising interest rates is aimed at stifling consumer demand to address all of this money that’s sloshing around in our economy, and that’s going to affect consumers here, as well as producers of goods and other countries that rely on the U.S. market,” said Sarah Anderson, global economy project director at the Institute for Policy Studies.
Inflation ‘transmitted through trade’
Inflation in the United States is at a 40-year high amid surging consumer demand for goods, a strengthening domestic job market and pandemic-caused supply chain disruptions, including for critical semiconductors.
“The price of U.S. exports increased by more than the price of U.S. imports last year, so in a sense, the U.S. is exporting inflation because the cost of producing things in the U.S. has increased faster than the imports going into it from overseas. So, the inflation can be transmitted through trade,” DiPippo told VOA.
Some economists and policy analysts see the administration of U.S. President Joe Biden confusing structural and cyclical economic matters as it struggles to tame inflation.
“The cyclical phenomenon — inflation — over the next year or so, really only the Fed has the tools to deal with that,” DiPippo said. “Even if the Biden administration is able to increase subsidies to produce things in the United States or increase competition through regulation, those things take time. And we’re talking about inflation over the next year or two, not over the next five years. So, there’s a mismatch.”
The White House has repeatedly said that it is prioritizing lowering prices to help American households and that the best way to accomplish it is through increased competition.
“Competition results in lower prices for families. Competition results in fair wages for workers. And as you all know, competition encourages companies to innovate,” Biden said on Monday during a meeting of the White House Competition Council.
Prices have been surging in the United States and other countries since last year amid serious shortages of workers and the goods they produce. That has the International Monetary Fund predicting slower growth and faster inflation for the world’s biggest economies.
“People have shifted from spending money on services, like going out to restaurants and theaters, during the pandemic to buying more stuff,” Anderson told VOA. That has put more pressure on manufacturers, especially in countries such as China and Vietnam, which are having difficulty keeping pace with demand because so many workers have been sidelined by the pandemic.
“We can raise interest rates, but I don’t think the problem is going to go away until we end the pandemic,” Anderson added.
China’s “No-COVID policy may cause more lockdowns,” exacerbating the supply chain woes, Powell, the Fed chair, warned on Wednesday. “There’s plenty of risk out there.”
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