business has picked up again truss budget and so forth. higher interest rates are really taking their toll on the economy now, companies are reporting falling demand and activity, so expect a contraction in this quarter. is demand and activity, so expect a contraction in this quarter. is this the rice contraction in this quarter. is this the price we contraction in this quarter. is this the price we pay contraction in this quarter. is this the price we pay for contraction in this quarter. is this the price we pay for trying - contraction in this quarter. is this the price we pay for trying to - contraction in this quarter. is this | the price we pay for trying to keep a lid on inflation? a lid on inflation? precisely, the whole point a lid on inflation? precisely, the whole point of a lid on inflation? precisely, the whole point of raising a lid on inflation? precisely, the whole point of raising interest i whole point of raising interest rates is to dampen demand. we ha
russians. that s a 272 tank. and we re seeing a column of tanks, and those right now are taking a turn, and they re actually heading towards the front line near kharkiv where you just said where the heaviest fighting is going on right now. as we speak here you can see the invasion that russia is conducting of ukrainian territory going on and obviously moving forward as the russians are moving more heavy equipment towards ukraine. this is something, frederica, that we ve seen throughout the entire course of the day, that more of this heavy equipment has been moving towards the front line, towards ukrainian territory. and again, it s not clear whether or not this means that the russians need more of this because it s becoming more difficult for them, but it s certainly a fact we are definitely seeing a lot more of this stuff going towards ukrainian territory. also, again, as i said a lot of big multiple rocket launchers coming past, rockets being fired. this is definitely sort of a
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financial messaging. that s not my term. that s the term from my colleague. it s there to send information about secure transactions. so that a bank, if anybody is sending a financial transaction here to the united states, the bank knows who s sending that money, the instructions related to that money and so on. so that s what s.w.i.f.t. it, it s a messaging system. money doesn t actually go through it. but nearly all financial institutions use s.w.i.f.t. in order to pursue those financial transactions. so the reason why cutting a country out of s.w.i.f.t. which, by the way uz, was not what was announced today. what was announced was cutting off certain financial institutions off from s.w.i.f.t., and there s a reason that was targeted. the reason that s a big deal is we have a lot of trade with russia, europe in particular has a lot of trade with russia in particular for them with oil and gas. for us it s related to fuel minerals, to iron and steel.
better part of the last eight decades have been asleep to some degree. and that is a moment that is jostling the west, europe in particular, out of perhaps that slumber and recognizing kind of the essential element that those bring to the table and underscoring that the unity that you ve seen from nato, from the eu, obviously the u.s. alliance that they put together with the sanctions that they applied is so critical right now given what we re seeing over the course of the last four, five, six, seven years, and that that even from a bigger picture perspective is incredibly important going forward, and something that i think the president has long thought was lacking based on in particular his predecessor, but also kind of the way the trajectory of the world has been going over the course of the last several years. just emphasizing that point. this is why we should care about upholding democratic values. and also, he talked about the pandemic and how we re two years into this. he is c