Written by Patrick Hart

 

Our president, Rich Schoeneman, presided over this week’s meeting, and we opened with a pledge and a prayer.

 

Everyone apparently was feeling very modest this week, and none of our members felt the need to brag.

 

ANNOUNCEMENTS:

This Saturday February 26, is our big winter fundraiser, and ticket sales are going well.  To make the event as successful as possible though, we do not want to let up in our efforts at the last minute. The auction will be open through 9:00 p.m. on Saturday night.

 

 

Rob Likus led us in fun and frolics this week, and he conducted an educational quiz on the current crisis in the Ukraine.   I even learned what Vladimir Putin’s middle name was, although I am not going to report it in the bulletin for fear I would misspell it.

 

Wednesday this week was the anniversary of the first ever Rotary meeting which occurred on February 23, 1905. That was back during simpler times, when members did not have to fret about the possibility of being wheeled for letting their cell phones ring during a meeting. Anyway to commemorate this anniversary Rotary declared the date to be World Understanding and Peace Day, and we watched a short film reminding us of how Rotary helps encourage peace, understanding and good will through our avenues of service.

 

Howard Jaffe then took advantage of his recent meeting with members of the Federal Reserve to update us on the world of banking.  Since the beginning of the pandemic the Fed has been taking two major steps trying to keep the economy in shape; maintaining the interest rate on Fed Funds nearly at zero and buying up a tremendous amount of bonds to make more funds available for investment. These are the same methods the Fed used to bring back the economy after the 2008 collapse, and it worked very well then.  This time though the Fed actions have contributed to inflation jumping to 8%, and since the Fed views 2% inflation to be the ideal level, they feel that they need to counter this phenomena by cutting back on their prior expansive actions beginning in March. Howard believes that the Fed will raise interest rates four times in 2022 and that they will be cutting back drastically on their bond ownership.

 

 

This week we had $27.00 in the sure prize, and $150.00 in the progressive pot with 50 cards left.  Rick Mittelman took the $27.00 while Bob Zamor went for the gold, but failed to pull the ace of spades from the deck.

 

Greeter and Prayer:  Patricia Bleck

 

Fun and Frolics:   John McDonald

 

QUOTE FOR THE DAY:

“When the power of love overcomes the love of power the world will know peace.” Jimi Hendrix