Economy of the United States – Author Carlo Carrasco

Trump’s America To Launch Tariff Investigations On Several Countries

March 13, 2026March 12, 2026carlocarrasco

Even as the United States is busy working alongside Israel on the war against the Islamic terrorist state of Iran, the Trump administration announced that it will launch tariff investigations on several countries including trade partners like Japan, according to a news report by Kyodo News. The probes are meant to find out if unfair trading practices exist.

To put things in perspective, posted below is an excerpt from the Kyodo News report. Some parts in boldface…

U.S. President Donald Trump’s administration said Wednesday it will launch tariff investigations into what it sees as unfair practices by China, Japan and over a dozen other American trading partners.

According to U.S. Trade Representative Jamieson Greer, the move is intended to “uncover a variety of unfair trading practices related to excess capacity in production” in the manufacturing sector, and replace Trump’s sweeping tariff regime that was invalidated by the Supreme Court in February.

“Our view is that key trading partners have developed production capacity that is really untethered from the market incentives of domestic and global demand,” Greer told reporters.

The other trading partners facing the investigations, carried out under Section 301 of the Trade Act of 1974, are the European Union, Bangladesh, Cambodia, India, Indonesia, Malaysia, Mexico, Norway, Singapore, South Korea, Switzerland, Taiwan, Thailand and Vietnam, Greer said.

The statute, which allows the U.S. government to impose tariffs in response to a foreign country’s alleged unfair practices, was a favorite tool of Trump for justifying higher tariffs on Chinese imports when he started a trade war with Beijing during his first term as president.

After the U.S. top court on Feb. 20 struck down a large chunk of Trump’s far-reaching tariff agenda as imposed under the International Emergency Economic Powers Act, his administration introduced a new 10 percent global duty.

However, the new 10 percent surcharge, relying on a different legal framework, can only last 150 days unless Congress approves an extension.

Greer said the Trump administration seeks to complete the investigations as quickly as possible and prepare for new Section 301 tariffs within the 150-day period.

The statute requires consultations with the governments of the targeted trading partners before tariffs can be imposed.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the United States is doing the right thing with the multiple trade investigations? How do you think the Trump administration will adjust its tariff policy once the 150-day period expires?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Japanese Prime Minister Condemns Iran

March 7, 2026March 10, 2026carlocarrasco

Even though it has been severely damaged by the joint forces of the United States and Israel, the Islamic terrorist state of Iran continued to retaliate by launching missiles and drones not only at American and Israeli forces, but also on sovereign nations in the Middle East such as Kuwait, Saudi Arabia, the United Arab Emirates, Islamist Qatar and more. As such, Japanese Prime Minister Takaichi Sanae condemned Iran for the destruction it committed, according to a news article by Nippon TV.

For insight, the Prime Minister previously urged Iran to solve its conflict with America and Israel diplomatically. Economically, Japan is vulnerable as it imports most of its oil from the Middle East and the violence happening in the said region has already caused serious economic disruptions. Japan also opposes any nuclear weapons development program by Iran.

To put things in perspective, posted below is an excerpt from the news article of Nippon TV. Some parts in boldface…

Amid continued tensions surrounding the situation in Iran, Japanese Prime Minister Takaichi Sanae spoke on the phone with German Chancellor Friedrich Merz on March 5 and told him she condemns Iran’s actions.

Officials said that at the start of the roughly 20-minute conversation, Merz provided an overview of the international situation, taking into account events including his summit meeting with US President Donald Trump.

In response, Takaichi told Merz that she condemns Iran’s actions, including attacks that have extended to civilian and diplomatic facilities and resulted in civilian casualties. The two leaders agreed to work together to de-escalate the situation as quickly as possible.

Ahead of the phone call, Takaichi met with visiting UAE Minister of Industry and Advanced Technology Sultan Al Jaber at her office.

In the talks, Takaichi asked for cooperation from the United Arab Emirates in safeguarding Japanese nationals and maintaining a stable supply of oil to Japan.

Officials said Jaber expressed his intention to cooperate in areas such as ensuring the safety of Japanese citizens.

Amid escalating tensions in the Middle East, there have been disruptions in logistics, with tankers becoming stalled near the Strait of Hormuz.

Japanese automaker Toyota Motor is said to be considering reducing its production of vehicles bound for the Middle East.

According to sources, Toyota has notified parts manufacturers and other relevant entities about the possibility that it may reduce the number of vehicles produced. Toyota has not disclosed details of its production plans or whether it uses the Strait of Hormuz.

But last year, the company exported about 320,000 vehicles, including Land Cruisers, to Middle Eastern countries.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the Islamic terrorist regime of Iran is just days away from totally collapsing as the United States and Israel keep on pounding them with military weapons? Do you think the wicked government of Iran is paying any attention to the Prime Minister of Japan? Why do you think the Islamic terrorist regime of Iran deliberately targets civilians with missiles and drones? Did you notice a lot of people in your local community who openly support the Islamic terrorist state of Iran?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines To Use ASEAN Influence To Lead Southeast Asian Front Against Trump’s New Global Tariff On Imports

February 27, 2026February 26, 2026carlocarrasco

Months ago, it was announced that the Philippines will temporarily lead the Association of Southeast Asian Nations (ASEAN) as its Chair for 2026. In light of US President Donald Trump’s implementation of a new tariff on imports as a result of the United States Supreme Court’s decision, the Philippines – through its Trade Secretary – announced that it will lead the Southeast Asian front against the said tariff, according to a Manila Bulletin news report.

To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…

Manila is preparing to lead a unified Southeast Asian push for a preferential trade agreement with the United States (US) following Washington’s decision to impose a 15 percent global tariff on imports.

Trade Secretary Cristina Roque said the government intends to leverage its 2026 chairship of the Association of Southeast Asian Nations (ASEAN) to safeguard the region’s export competitiveness and navigate the sudden shift in American trade policy.

Roque added that the government will also raise this matter during the upcoming ASEAN Economic Ministers (AEM) Retreat in the coming month.

“Definitely that will be one of the topics that we will be talking about,” she told reporters on the sidelines of the ASEAN Editors and Economic Opinion Leaders Forum.

She, however, said the government has yet to formally discuss the region’s position, given that the US’ new sweeping tariffs were just announced over the weekend.

Finance Secretary Frederick Go, on the other hand, said this is an issue that all ASEAN members “love to talk about when we’re together.”

“What it made clear to us is that we have to open new markets,” said Go.

The US Supreme Court ruled on Feb. 20 that President Donald Trump’s reciprocal tariffs implemented under the International Emergency Economic Powers Act (IEEPA) were unconstitutional.

In the aftermath of the ruling, Trump immediately slapped a 10 percent surcharge on imports to the US, later raising it to 15 percent.

The new global tariff brings another wave of uncertainty that may undermine the exports of ASEAN members and ultimately their respective economic growth.

The Philippines is taking an active role in calling for deeper regional integration to accelerate investment flows and future-proof the region.

As ASEAN chair, Roque said a major priority is to oversee the passage and entry into force of the ASEAN Digital Economy Framework Agreement (DEFA).

DEFA aims to set the region’s common rules on e-commerce, digital trade, cybersecurity, digital payments, emerging technologies, and cross-border data flows.

The agreement is seen doubling the value of ASEAN’s digital economy, which is already on track to reach about $1 trillion by 2030.

“We recognize the complexity of today’s global environment—geopolitical tensions, technological disruption, supply chain shifts, and climate risks. Yet we remain confident in ASEAN’s collective strength. ASEAN bonded together is a force that cannot be ignored,” said Roque.

For the year, Roque said priorities of the ASEAN chairship also include cross-border mobility of digital talent and industrial development of semiconductors and critical minerals.

By observing the attitude of the current administration and its diplomats, the Philippines is acting as if it is a major player on international affairs and world economics. Its chairmanship of the ASEAN is the latest example of this. Clearly the Philippines is afraid of the new global tariff implemented by Trump. Filipino exporters have endured the previous 19% tariff by America. When it comes to economic growth, the Philippines has weakened achieving only 4.4% growth in 2025 and the fallout of the flood control corruption scandal is still being felt socially and economically.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the Philippines will be a very effective leader of the ASEAN this year? Do you think the Philippines is truly standing up for the economic interests of each and every Southeast Asian nation when dealing with Trump tariffs? Is the Philippines leading ASEAN to a potential embarrassment on international affairs and economics?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Prime Minister Takaichi Pledges To Make Japan Stronger And More Prosperous Through Major Policy Shifts

February 24, 2026February 20, 2026carlocarrasco

With the huge election victories of February 8 recorded in history and having been re-elected in her current position, Japanese Prime Minister Takaichi Sanae vowed major shifts on policy with the intention to make the nation stronger and more prosperous, according to a news report by Kyodo News.

To put things in perspective, posted below is an excerpt from the news report of Kyodo News. Some parts in boldface…

Prime Minister Sanae Takaichi on Friday pledged major policy shifts to make Japan “stronger and more prosperous,” citing expansionary finance for economic growth and efforts to boost intelligence and defense capabilities to address security challenges.

In her first policy speech since being reelected prime minister by parliament earlier this week, Takaichi also expressed her willingness to cooperate with the opposition despite her ruling party’s historic landslide victory in the Feb. 8 general election.

Takaichi said she will promote “responsible and proactive” fiscal policies and measures to encourage domestic investments in crisis management and promising fields.

“My Cabinet will end the long-running practice of excessive fiscal austerity and insufficient investment for the future,” said Takaichi, who became Japan’s first female prime minister in October and was reelected Wednesday. “We will intensely press, press, press, press and press the switch for growth.“

Takaichi vowed to speed up discussions on a two-year suspension of the 8 percent consumption tax on food and beverage items, aiming to draw an interim conclusion before the summer at a cross-party “national council” and submit related bills swiftly.

With prolonged inflation in mind, the government will not rely on deficit-covering bond issuance for the suspension, which would be a stopgap to help households until the envisioned introduction of an income tax deduction and cash handout system, she said.

“By fully mobilizing these measures, we will create a virtuous cycle of investment and wage hikes,” Takaichi said.

Japanese prime ministers usually deliver policy speeches in January after the start of ordinary Diet sessions, but this year the session ended in one day as Takaichi dissolved the House of Representatives on Jan. 23 for a snap election, leading to her address during a 150-day special session that started Wednesday.

In the election, Takaichi’s Liberal Democratic Party and its coalition partner, the Japan Innovation Party, won more than three quarters of the lower house’s 465 seats, well above the two-thirds threshold required to override the House of Councillors to push through bills.

In the upper house, the LDP-JIP bloc remains in a minority.

Takaichi said she hopes to work with opposition parties in realizing policies, quoting from a Chinese classic, “With trust, we act in righteousness, with righteousness, we fulfill our mandate.”

She called for cooperation to ensure the early enactment of a draft initial budget for fiscal 2026 starting April, which before the snap election had been expected to pass by the end of March, and of tax reform bills.

To prevent “unjustifiable foreign interference” in Japan, Takaichi said her government will establish a ministerial-level committee and upgrade the existing Cabinet Intelligence and Research Office to a national agency.

A conservative with hawkish security views, Takaichi also said she expects a deeper public debate on amending the war-renouncing Constitution, a long-held LDP goal, and revising the Imperial House Law for a “stable imperial succession,” amid a decline in the number of imperial family members.

As for diplomacy, Takaichi said she will visit the United States next month, if possible, to “further strengthen a relationship of trust” with President Donald Trump, describing the bilateral alliance as the linchpin of Japan’s foreign and security policies.

Regarding China, she reiterated Japan’s commitment to building “constructive and stable” ties and continuing communication, amid bilateral tensions sparked by her remarks in parliament in November that an attack on Taiwan could prompt an intervention by Japan’s defense forces.

Takaichi said Japan is facing “the most severe and complex” security environment of the postwar era, pointing to China’s intensifying military activities and attempts to “unilaterally change the status quo by force and coercion” in the East and South China seas.

Also touching on North Korea’s missile and nuclear development programs and Russia’s invasion of Ukraine, Takaichi promised to update three key security and defense policy documents this year and “strategically evolve” Japan’s free and open Indo-Pacific vision.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Prime Minister Takaichi and her cabinet will be able to achieve the goals of their agenda while convincing the opposition to cooperate? Do you think Japan will be able to secure itself better from the combined hostilities of Communist China and North Korea? Do you think strong economic growth can be achieved within the next few years?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Japan Eases Import Restrictions On American Automobiles

February 23, 2026February 17, 2026carlocarrasco

Recently Japan announced that the inspections for American automobile imports have been simplified in accordance with the bilateral tariff agreement, according to a news report by NHK World.

To put things in perspective, posted below is an excerpt from the news report of NHK World. Some parts in boldface…

Japan’s transport ministry has simplified inspections for US automobile imports based on a bilateral tariff agreement.

The transport ministry revised an ordinance on automotive safety standards to allow imports of US vehicles without additional tests as long as they conform to US safety standards.

US and Japanese automobiles have different requirements such as those for body impact strength, turn signal color and instrument units.

But from Monday, no additional tests are required for US auto imports if their makers have taken steps to ensure safety and the imports are authorized by Japan’s transport minister.

A red star-shaped sticker will be affixed to the rear of automobiles that meet the criteria. Inspection certificates will show that they are authorized US vehicles.

The deregulation was part of an agreement reached by Tokyo and Washington last July. The ministry has been working out details to implement the measure.

The easing of regulations is expected to be applied when cars made in the US by Japanese manufacturers are imported into Japan.

The Japanese government says the change will lead to a reduction in the US trade deficit with Japan.

Also on Monday, Japan’s Ministry of Economy, Trade and Industry decided to use a Japanese manufacturer’s cars made in the US as official government vehicles.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think this latest development will stimulate sales of American automobiles in Japan? Do you agree with the current bilateral tariff agreement between Japan and the United States?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Trump Reveals First Set Of Projects Under US-Japan Trade Deal

February 19, 2026February 18, 2026carlocarrasco

The ambitious trade deal between America and Japan is beginning to take shape as the administration of US President Donald J. Trump unveiled the first set of multi-billion Dollar projects, according to a news report by Kyodo News.

To put things in perspective, posted below is an excerpt from the news report of Kyodo News. Some parts in boldface…

U.S. President Donald Trump’s administration said Tuesday that Japan will finance the production of synthetic diamonds and two energy projects worth about $36 billion as the initial tranche of investments under a deal reached last year following months of tariff negotiations.

Trump’s announcement that the three projects had been selected, as part of a $550 billion package that Japan committed to in exchange for his administration reducing tariffs on Japanese cars and other goods, was confirmed hours later by Japanese Prime Minister Sanae Takaichi.

“These projects are so large, and could not be done without one very special word, TARIFFS,” Trump wrote on his Truth Social platform. “America is building again. America is producing again. And America is WINNING again.”

Calling it a historic time for the United States and Japan, he said a critical minerals project will be carried out in Georgia, along with plans for an oil facility in Texas and power generation infrastructure in Ohio.

Commerce Secretary Howard Lutnick said the United States and Japan will build the largest-ever natural gas infrastructure in Ohio, expected to produce 9.2 gigawatts of power, a deepwater crude oil export facility in the Gulf of Mexico and establish synthetic industrial diamond manufacturing capacity in the United States.

Lutnick said the deepwater facility is likely to generate $20 billion to $30 billion in U.S. crude oil exports annually.

Takaichi said on social media that the gas infrastructure will power artificial intelligence data centers, and the production of synthetic diamonds used in the semiconductor, auto and aviation industries is aimed at reducing the two countries’ overreliance on a specific country, without naming China.

“Going forward, Japan and the United States will continue working closely to further coordinate the details for implementing each project, ensuring their early and smooth execution,” Takaichi said in an X post.

Under a trade deal struck in July last year, Japan has committed to investing $550 billion in the United States by the end of Trump’s second term in January 2029.

Japan’s commitment comprises investments, loans and loan guarantees from Japanese government-backed financial institutions.

Japan’s industry minister Ryosei Akazawa told reporters in Tokyo that about $33.3 billion will be invested in the gas infrastructure, with Japanese companies such as Hitachi Ltd., Mitsubishi Electric Corp., Toshiba Corp. and SoftBank Group Corp. interested in participating in the project.

The project to increase U.S. crude oil exports is valued at $2.1 billion and the production of synthetic diamonds is worth $600 million, according to Akazawa, who mentioned Japanese firms such as Mitsui O.S.K. Lines Ltd., Nippon Steel Corp. and Asahi Diamond Industrial Co. in connection with these initiatives.

Last week, Akazawa and Lutnick agreed in Washington to speed up the selection process for the first round of investments, as the two countries prepare for Takaichi’s visit to the United States next month.

Japan and the United States have said that the investments will focus on strategic sectors, such as critical minerals, semiconductors, artificial intelligence and energy, to advance their national security interests and economic objectives.

The memorandum of understanding between Japan and the United States, signed by Akazawa and Lutnick in September last year, stipulates that Trump will ultimately choose projects recommended by an “investment committee” chaired by the commerce secretary and composed solely of U.S. officials.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the first projects of the US-Japan trade deal will create huge economic impact over the next few years? What other ambitious projects do you think Japan and America will focus on next?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Japan And Trump’s America To Speed Up Investment Plans Under $550 Billion Package

February 14, 2026February 13, 2026carlocarrasco

Remember Japan’s commitment of investing $550 billion into core industries in the United States? The two great nations had a high-level meeting in Washington and they agreed to speed up the selection of the first round of investment projects under the multi-billion Dollar package before they are sent to US President Donald J. Trump for approval, according to a news report by Kyodo News.

To put things in perspective, posted below is an excerpt from the news report of Kyodo News. Some parts in boldface…

Japan and the United States agreed Thursday to speed up selection of the first round of investment projects under a $550 billion package that Tokyo committed to last year following months of tariff negotiations, with a summit of their leaders about a month away.

Hours after his meeting with U.S. Commerce Secretary Howard Lutnick in Washington, Japanese industry minister Ryosei Akazawa told reporters a “significant gap” remained and more coordination was required to serve the mutual interests of the two countries.

“In conducting negotiations, we are naturally keeping in mind the goal of making Prime Minister (Sanae) Takaichi’s visit to the United States a fruitful one,” he said.

Akazawa’s meeting with Lutnick was believed to be part of last-ditch efforts to sort out the first batch of Japanese investment projects to be carried out in the United States, before they are sent to President Donald Trump for final approval.

Although Akazawa, who serves as economy, trade and industry minister, said there was some progress, neither side could unveil any specifics. While refusing to elaborate, he suggested differences remained over interest rates and business risk assessments.

“In a nutshell, as far as we are concerned, high-risk, high-return (investments), given that they also involve taxpayers’ money, are not something we are interested in,” he said.

The meeting with Lutnick took place a week after Trump said he would welcome Takaichi to the White House on March 19.

Under a trade deal struck in July last year, Japan has committed to investing $550 billion in the United States by the end of Trump’s second term in January 2029, in exchange for his administration reducing tariffs on Japanese cars and other goods.

The massive figure represents a combination of investments, loans and loan guarantees from Japanese government-backed financial institutions.

Japan and the United States have agreed that the forthcoming investments will focus on strategic sectors, such as critical minerals, semiconductors, artificial intelligence and energy, to support their national security interests and economic objectives.

For the initial tranche of investments, the construction of gas-fired power generation facilities for data centers, the production of synthetic diamonds used in the semiconductor industry and the development of a port are among the leading candidates, according to Japanese officials.

The memorandum of understanding between Japan and the United States, signed by Akazawa and Lutnick in September last year, stipulates that Trump will ultimately select projects recommended by an “investment committee” chaired by the commerce secretary and composed solely of U.S. officials.

Earlier in the process, the so-called consultation committee — comprising officials from both countries — is tasked with identifying potential investment projects.

The United States will forward investment projects that gain Trump’s endorsement to Japan for review, with Tokyo given 45 days to respond and transfer the necessary funds to Washington.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think the two nations will reach an agreement over the first round of investment projects under the $550 billion package? Do you think the remaining challenges will be resolved in due time? Are you looking forward to Prime Minister Takaichi’s Washington visit and meeting with President Trump this March?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Trump Welcomes Vietnam’s Decision To Join Board of Peace

February 3, 2026February 2, 2026carlocarrasco

Following the ratification of the charter of the Board of Peace in Davos, Vietnam officially decided to join it which US President Donald Trump welcomed, according to a news report by VnExpress. Trump previously invited Vietnam’s leader to join the council.

Vietnam’s entry into the Board of Peace (note: referred to as the Peace Council in the VnExpress report) is not exactly surprising as it already has friendly ties with Israel. Ties between Vietnam and America are also healthy.

To put things in perspective, posted below is an excerpt from the report of VnExpress. Some parts in boldface…

U.S. President Donald Trump has sent a message congratulating Vietnam’s Party General Secretary To Lam on his re-election for a 14th term and welcoming Vietnam’s decision to join the Peace Council initiative.

President Trump said General Secretary Lam’s continued leadership role comes at an important time, as Vietnam and the U.S. are pressing ahead with the positive outcomes achieved in bilateral relations in recent years.

The President also expressed his hope that the two sides would soon make positive progress in negotiations on a reciprocal, fair and balanced trade agreement, thereby further promoting shared prosperity.

He welcomed Vietnam’s decision to join the Peace Council initiative, and thanked and highly valued Vietnam’s role as well as Vietnam-U.S. cooperation in promoting peace and safeguarding freedom, sovereignty and independence of countries in the Indo-Pacific and the world at large.

President Trump said he is confident that Vietnam-U.S. relations would continue to deepen across all fields, from economy and trade to security, defense and people-to-people exchanges, and expressed his hope to welcome General Secretary Lam to the U.S. at an appropriate time.

General Secretary Lam accepted the invitation from U.S. President Donald Trump last month to join the Gaza Peace Council and affirmed Vietnam’s readiness to participate as a founding member state of the council.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think Vietnam will become a major contributor on the rehabilitation of the Gaza Strip? What is your opinion about the state of Vietnam-America ties as well as Vietnam-Israel ties?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Trump Picks Kevin Warsh As The Next Federal Reserve Chairman

February 1, 2026January 31, 2026carlocarrasco

At long last, US President Donald Trump picked Kevin Warsh as the next chairman of the Federal Reserve replacing Jerome Powell, and already a lot of public officials and high-ranking members of the private sector support the choice, according to the Kyodo News report plus the White House press statement respectively.

To put things in perspective, posted below is an excerpt from the report of Kyodo News. Some parts in boldface…

U.S. President Donald Trump said Friday he will nominate Kevin Warsh to be the next chair of the Federal Reserve, with the choice of a Wall Street veteran who was a governor of the central bank over a decade ago seen as intended to avoid roiling financial markets.

Trump’s pick to replace Jerome Powell as the Fed chair caps a process that formally began last summer. While screening candidates in private, he has subjected Powell to relentless public criticism for not cutting interest rates more aggressively and challenged the independence of the world’s most influential central bank.

Trump announced the nomination in a post on social media, saying, “I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best.“

“On top of everything else, he is ‘central casting,’ and he will never let you down,” Trump added. The lengthy post, though it included information on Warsh’s professional experience, did not clearly explain the reason for his selection.

Powell’s term as Fed chief ends in May. The role requires Senate confirmation, which may not be smooth sailing for Warsh due to bipartisan concern over the Fed’s independence under Trump, most recently evidenced by the Department of Justice launching a criminal probe into Powell over a renovation of the central bank’s headquarters.

Trump told reporters later Friday in the Oval Office that he was not worried about the confirmation process, calling Warsh the “most qualified” person to take the helm of the Fed, based on his background and experience.

He also said he did not urge Warsh to cut interest rates, but admitted discussing the topic with him.

“I don’t want to ask him that question. I think it’s inappropriate, probably,” Trump said. “I want to keep it nice and pure. But he certainly wants to cut rates. I’ve been watching him for a long time.”

Warsh was previously appointed to the Fed in 2006 at the age of 35, making him the youngest person ever to serve on its board at that time. He was a board member until 2011.

During the 2008 financial crisis, he served as the Fed’s main liaison with Wall Street and earned a good reputation for stabilizing the situation.

Before that, he was a special assistant to President George W. Bush for economic policy and executive secretary of the White House National Economic Council.

After graduating from Harvard Law School in 1995, Warsh joined Morgan Stanley’s mergers and acquisitions division, where he worked for seven years and became vice president and executive director.

U.S. Treasury Secretary Scott Bessent said last week that the screening of candidates for the next Fed chief had narrowed to four finalists.

The four were said to be Warsh, Kevin Hassett, Trump’s top economic adviser, Christopher Waller, a Fed governor, and Rick Rieder, BlackRock’s chief bond investment manager.

Calling Warsh and Hassett “the two Kevins,” Trump had repeatedly said they were “great” in the weeks leading up to his official announcement.

Warsh was a finalist in the 2017 Fed chair race during Trump’s first term and was reportedly a candidate for Treasury secretary in his second presidency.

During his time on the Fed’s board, Warsh was considered a monetary hawk, meaning he was typically supportive of higher interest rates to curb inflation, even in the middle of the financial crisis.

Compared with Hassett, a close ally of Trump’s who has openly advocated lower borrowing costs for businesses and consumers, Warsh is seen by financial markets as someone who could protect the Fed’s independence from the White House.

However, Warsh, 55, an outspoken critic of the central bank, has increasingly aligned with Trump’s views in recent months. The forthcoming Senate process is likely to test his ability to withstand pressure from the president while also reassuring nervous investors.

In a November opinion piece in The Wall Street Journal, Warsh disapproved of the Fed’s current monetary policy and praised the Trump administration for advancing what he called “pro-growth” economic programs, focusing on deregulation and tax reforms.

Meanwhile, the White House press statement revealed a long list of public officials and financial market figures who responded positively to Warsh’s nomination to lead the Federal Reserve. Posted below are selected excerpts from the statement. Some parts in boldface.

The nomination has drawn widespread praise from lawmakers, business leaders, financial experts, and industry voices across the spectrum:

Senate Committee on Banking, Housing, and Urban Affairs Chairman Tim Scott: “The Federal Reserve’s decisions touch every American household, from mortgage rates to retirement savings, and President Trump has been clear that bringing accountability and credibility to the Federal Reserve is a priority, and his nomination of Kevin Warsh reflects that focus. As a former Federal Reserve Governor, Kevin has deep knowledge of markets and monetary policy that will be essential in this role. Federal Reserve independence remains paramount, and I am confident Kevin will work to instill confidence and credibility in the Fed’s monetary policy. As Chairman of the Senate Banking Committee, I look forward to leading a thoughtful, timely confirmation process that carefully examines his vision for focusing the Federal Reserve on its core mission.”

Sen. Jim Banks: “Kevin Warsh is a brilliant pick by President Trump for Fed Chair. Clear from what he wrote in 2021 he understands scale of China’s ambitions. As member of Banking Committee I look forward to working with him to maintain American financial supremacy.”

Sen. Marsha Blackburn: “Kevin Warsh is exceptionally qualified to lead the Federal Reserve as Chairman. I look forward to supporting this nomination in the Senate, and I am confident Kevin will help foster economic growth and create more opportunity for hardworking Americans.”

Canadian Prime Minister Mark Carney: “Kevin Warsh is a fantastic choice to lead the world’s most important central bank at this crucial time.”

Mortgage Bankers Association President and CEO Bob Broeksmit: “MBA congratulates Kevin Warsh on his nomination to serve as Chairman of the Federal Reserve. His prior service on the Federal Reserve Board, where he developed a reputation as a prudent, thoughtful voice on monetary policy, paired with his private sector experience, will be invaluable as he leads the Federal Reserve in what has become an increasingly challenging and complicated mission.”

U.S. Chamber of Commerce President and CEO Suzanne P. Clark: “Kevin is well known to the business community. We appreciate his years of focus on how we grow the American economy and maintain stable prices for America’s families, and look forward to his confirmation process.”

JPMorgan Chase CEO Jamie Dimon: “Kevin Warsh is a highly respected and experienced leader — across government, business and education — who I have seen act with integrity and a dedication to making our country better.”

Job Creators Network CEO Alfredo Ortiz: “Kevin Warsh is the perfect choice to lead the Federal Reserve. He has repeatedly demonstrated understanding of the true driver of inflation: excessive government money printing, not economic growth. Under his leadership, the Fed can finally reach its target inflation rate, something Chairman Powell has continually failed to do, while also expanding access to credit for small businesses. By protecting the value of the dollar, supporting economic growth, and boosting capital access, a Warsh chairmanship can backstop a booming small business economy. The Senate should quickly confirm him.”

Let me end this piece by asking you readers: What is your reaction to this development? Considering the wide-reaching positive reactions to Trump’s pick for the next Chairman of the Federal Reserve, do you feel confident that Warsh is the right choice? Do you hope to see Warsh make positive changes once he takes over as the head of the Federal Reserve? Have you been frustrated with the way Jerome Powell led the Federal Reserve and executed financial policies over the past several years?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Trump Delivers Largest Tax Refund Season in American History

January 28, 2026January 27, 2026carlocarrasco

While it is true that the economy of the United States is indeed growing, there are still a lot of Americans struggling financially. As such, the promised tax relief by US President Donald J. Trump is crucial for millions as the new tax season has started. The White House officially announced the largest tax refund in the nation’s history and there is professional feedback to support it.

To put things in perspective, posted below is an excerpt from the White House announcement. Some parts in boldface…

As tax season kicks off, millions of Americans are poised to receive significantly larger tax refunds thanks to President Donald J. Trump’s landmark Working Families Tax Cuts Act — which every Democrat in Congress opposed.

The historic legislation is delivering the biggest tax refund season ever, with average refunds projected to rise by $1,000 or more this year due to its transformative policies.

*Reference from the White House announcement.*

Economists and financial experts agree — 2026 will mark an unprecedented year for tax refunds:

USA TODAY: “The average refund in 2025 was $2,939, IRS data showed. This year, refunds could be as much as 30% more due to new provisions from President Donald Trump’s mega tax and spending bill, according to James Knightley, chief international economist at Dutch bank ING.”

CBS News: “Many Americans could see heftier tax refunds next year when they file their 2025 tax returns, largely due to new provisions enacted through the Republicans’ ‘one big, beautiful bill’ act that are retroactive to the start of the current year, according to an analysis from Oxford Economics. Total taxpayer savings could amount to an additional $50 billion through bigger tax refunds or a cut in their 2026 taxes…A $50 billion boost in tax refunds would represent an 18% increase from the $275 billion in refunds the IRS sent this year to nearly 94 million taxpayers who overpaid on their 2024 federal tax returns.”

The Wall Street Journal: “Refunds on average are expected to come in $1,000 higher than usual this year, according to a study by investment firm Piper Sandler.”

Business Insider: “The Tax Foundation estimates that the average tax refund will grow from $3,052 in 2024 to $3,800 for tax year 2025. Depending on your income and circumstances, you might get even more back.”

CNBC: “Tax experts and analysts have agreed that many filers will see bigger refunds… ‘Overall, we’re expecting these changes to increase refunds by 15% to 20% on average,’ Heather Berger, a U.S. economist with Morgan Stanley said…”

President Trump’s Working Families Tax Cuts Act provides broad-based tax relief for hardworking Americans, with the average taxpayer expected to see nearly $4,000 in total tax savings in 2026. Key provisions of the bill include No Tax on Tips, No Tax on Overtime, No Tax on Social Security, a deduction for auto loan interest on Made-in-America vehicles, and much more — putting more money back in the pockets of families, workers, and seniors.

For details about the One Big Beautiful Bill (OBBB) and the Working Families Tax Cuts, click here and here.

Let me end this piece by asking you readers: What is your reaction to this development? Do you think this new tax refund season will be very helpful to Americans who are struggling with making ends meet? Have you paid close attention to the details within the Working Families Tax Cuts and the One Big Beautiful Bill already? How many families in your local community have been anticipating the new tax refunds from the Trump administration? Do you think the new tax refunds will be able to boost gross domestic product (GDP) growth to 5% this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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