Covenant Theology Assumptions
It must be stated with clarity up front that Covenant Theology starts with the assumption that the New Testament is the final interpreter of the Old Testament. It also understands that the Holy Spirit is the interpreter of Scripture in keeping with the principle of the “analogy of faith”. Scripture interprets Scripture and each successive Covenant has the right to define itself. As Fred Malone states in his book, The Baptisms of Disciples Alone,
“The New Testament is the authoritative exposition of what the Holy Spirit meant in the Old Testament prophectic passages. As written revelation, it carries a higher weight and priority than a supposed good and necessary inference deduced from the Old Testament.”
By this hermeneutic, Malone communicates that any inferences that one may see, such as National Israel being the primary recipient of the Promises, must bow to the clear understanding of the Apostle’s interpretation of the prophecies concerning Israel and the New Covenant.