A Recession, Flooding in Kentucky, New HHS rule

While the Commerce Department reported a decline in the gross domestic product for a second quarter in a row on July 28, one financial expert does not believe a potential recession should be the primary focus of market observers.

David Spika, chief investment officer for Guidestone, says the real key is how consumers are faring during times of financial turbulence.

He believes the Federal Reserve will be forced to continue raising interest rates to counter rising inflation and that will push the economy into a recession.

Spika says when churches consider the potential impact, they should prepare for the potential decrease in giving.

He encourages churches to go slow if they are in the midst of a building project or considering entering a high-cost financial project.

Spika believes a recession is often the best thing that can happen in the long run to help lower prices and drive down inflation for consumers.

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Pastors and church leaders across the mountains of Eastern Kentucky are asking fellow believers to pray that the rains would stop across the regions. Some areas are reporting as much as 13 inches of rain in a 48-hour period this week.

Homes, businesses and communities are facing tremendous flooding and rescue crews are struggling because of the high waters that aren’t expected to crest for days.

One pastor told of a church member who rescued family member who was standing on her kitchen counter with water up to her ankles when they reached her.

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A newly proposed rule by the Biden administration would violate the freedom of conscience of health care providers by requiring participation in gender-transition procedures and abortions, a Southern Baptist ethicist and other opponents say.

The Department of Health and Human Services (HHS) announced July 25 a proposed regulation that would bar discrimination on the basis of sex, which it says includes sexual orientation, gender identity and “pregnancy termination.” Sex is one of several categories protected from discrimination under a section of the 2010 Affordable Care Act implemented by the rule.

The regulation would force doctors, clinics and hospitals to perform and health-insurance companies to cover procedures to which they object, critics say. It also clarifies that the nondiscrimination requirements apply to services offered by telemedicine.

Matt Bowman, senior counsel with Alliance Defending Freedom, said physicians “should never be forced to perform a controversial and often medically dangerous procedure that goes against their best judgment, their conscience, or their religious beliefs.”