economy – Page 2 – Author Carlo Carrasco

Philippines January 2026 Inflation Rate Lands At 2%

February 14, 2026February 9, 2026carlocarrasco

The inflation rate of the Philippines for the month of January 2026 landed at 2% which is the highest in almost a year’s time, according to a news report by BusinessWorld.

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

PHILIPPINE INFLATION accelerated to its fastest pace in nearly a year in January amid a faster rise in rents and electricity rates, the Philippine Statistics Authority (PSA) reported.

Headline inflation picked up to 2% from 1.8% in December but slowed from 2.9% in the same month last year. This was the fastest pace seen in 11 months or since 2.1% in February 2025.

It also marked the first time in almost a year that the consumer price index (CPI) hit the Bangko Sentral ng Pilipinas’ (BSP) 2%-4% target.

The January clip was likewise above the 1.8% median forecast in a BusinessWorld poll of 18 economists but was within the central bank’s 1.4%-2.2% estimate for the month.

“The main reason for the higher inflation rate in January 2026 compared with December 2025 is the faster price increase in housing, water, electricity, gas, and other fuels, which recorded a 3.3% inflation rate,” National Statistician Claire Dennis S. Mapa said at a news briefing on Thursday.

Inflation for housing, water, electricity, gas and other fuels quickened to 3.3%, the fastest since 3.8% in August 2024.

According to the PSA, this commodity group had a 45.9% share in the overall inflation uptick in January.

Broken down, inflation for electricity rose to 6.5% year on year in January from the revised 4% in December, while rental prices picked up by 2.9% during the month from 2.4% in December.

This comes even after Manila Electric. Co. trimmed electricity rates by 16.37 centavos per kilowatt-hour (kWh) to P12.9508 per kWh last month from P13.1145 per kWh in December, which meant households consuming an average of 200 kWh paid P33 less in their monthly electricity bill.

In January 2025, Meralco charged P11.7428 per kWh.

The Department of Economy, Planning, and Development (DEPDev) said the government is enforcing programs to manage price pressures emerging from the energy sector. It includes improving the Department of Energy’s Net Metering Program by enforcing time-bound local permitting, simplifying utility documentary requirements and expanding consumer incentives.

“The program allows consumers to install eligible renewable energy systems and export surplus electricity to the grid, helping lower electricity costs and support the energy transition,” the DEPDev said in a statement.

Mr. Mapa also noted that liquefied petroleum gas (LPG) added price pressures, as inflation settled at -2.8% in January from -5.1% in December.

In January, Petron Corp. hiked LPG prices by P2.18 per kilogram (kg), while Solane imposed a P2.18-per-kg increase.

This means that the price of a household-standard 11-kg LPG tank ranged from P820 to P1,120 last month, based on data from the Department of Energy.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the inflation rate of the Philippines could rise to as much as 3% this year? What do you think will be the factors – both internal and external – that will cause the inflation rate to spike?

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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Indonesia Attracts 15.39 Million Foreign Visitors In 2025

February 14, 2026February 10, 2026carlocarrasco

Indonesia, the 2^nd largest economy of Southeast Asia, successfully attracted 15.39 million foreign visitors in 2025 and it is already looking forward to attracting even more this year, according to a news report by VnExpress.

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

Indonesia, the largest economy in Southeast Asia, welcomed 15.39 million foreign visitors in 2025, exceeding its target of 14-15 million arrivals.

“We have exceeded our target and performed better than our previous projections,” Tourism Minister Widiyanti Putri Wardhana said at a meeting in Jakarta on Wednesday, as quoted by Antara News Agency.

Government figures show that average spending per foreign visitor reached US$1,267 in 2025, surpassing the target of $1,220.

Malaysia remained the biggest contributor to Indonesia’s tourism revenue, while the United Arab Emirates posted the fastest growth in visitor numbers.

Arrivals from China rose sharply, reaching 1.34 million in 2025, the highest level in six years, according to Xinhua News Agency. The data indicates that travel from China to Indonesia has not only recovered but has also exceeded pre-pandemic levels.

By doing the math of the numbers revealed in the above news report, US$1,267 multiplied with 15.39 foreign tourists is equal to roughly US$19.5 billion in foreign tourism revenue. That is a huge economic boost for Indonesia.

Let me end this piece by asking you readers: What is your reaction to this development? Have you ever toured Indonesia? If you have visited Indonesia, what did you enjoy the most while touring there?

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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Vietnam Attracts 2.5 Million Foreign Tourists In January 2026

February 12, 2026February 7, 2026carlocarrasco

Vietnam, which is already one of the leading players of Southeast Asia on foreign tourism, is off to a powerful start as it successfully attracted 2.5 million foreign tourists in January 2026 alone, according to a news report by VnExpress. The relaxed visa policies and enhanced tourism campaigns were factors behind the early success.

For insight, Vietnam attracted 21.2 million foreign tourists in 2025. It is expected to attract more from Israel as its ties with the Jewish state are getting stronger. Also, a lot of Filipino travelers searched for accommodations in Vietnam online in 2025. These are only a few of many factors highlighting the tourism boom in Vietnam.

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

Vietnam received 2.5 million foreign visitors in January, its highest monthly number ever, thanks to relaxed visa policies and increased tourism campaigns.

It represents an increase of more than 21% from the previous month, data released Tuesday by the General Statistics Office shows.

The composition of Vietnam’s top source markets changed during the month. South Korea overtook mainland China to become the top market with nearly 490,000 visitors, and China was next with 460,000.

Cambodia emerged as the most notable mover with more than 223,000 arrivals to rise to third place overtaking Taiwan. The rest of top 10 comprised Taiwan, Japan, the U.S, Australia, Russia, India, and Malaysia.

Industry insiders attribute the jump to ground-breaking visa policies, strong innovation in tourism promotion and marketing, greater product diversification, and improved service quality.

Let me end this piece by asking you readers: What is your reaction to this development? Have you ever toured Vietnam? With the strong start, do you think Vietnam will be able to attract more than 30 million foreign tourists this year? What is the first thing that comes to your mind when it comes to tourism in Vietnam?

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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I Love Israel: Direct Flights Between Israel And The Philippines In 2027 Planned

February 11, 2026February 11, 2026carlocarrasco

Have you ever dreamed of visiting the Holy Land in Israel as well as the many other nice places which welcome tourists from around the world? EL AL Airlines, the national airline of Israel, announced its plans to introduce direct flights between Israel and the Philippines starting some time in 2027, according to a news article by the Philippine News Agency (PNA). The plans are subject to regulatory approvals as of this writing. The Israel-Philippines route is just one of several new routes EL AL is pushing for.

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

Israel’s national carrier, EL AL Airlines, announced plans to introduce nonstop flights between Israel and the Philippines, following a series of talks.

In a social media post on Monday, EL AL said it is rolling out the broadest route network in its history, with nine new destinations set to launch in 2027.

The expansion includes new long-haul nonstop flights to Hanoi in Vietnam, Seoul in South Korea and Manila, with three weekly flights to each destination to be operated using the airline’s Dreamliner aircraft, offering economy, premium and business classes.

The planned nonstop flight between Israel and Manila comes after discussions on the feasibility of a direct air link, seen as a boost to tourism, business travel and people-to-people exchanges.

EL AL said ticket sales for Hanoi flights are now open, while sales for Seoul will begin in May.

Further details on the Manila route, including the start of sales and flight schedules, will be announced at a later date.

For its part, the Department of Transportation (DOTr) of the Philippines supports the plan citing President Bongbong Marcos’ directive to expand international air connectivity and the strengthening the bilateral ties between nations. High-level talks happened between the DOTr and the Israeli Ambassador to the Philippine Dana Kursh.

Having been to Israel myself, I am delighted with the planned Israel-Philippine direct flights planned by EL AL. Direct flights will help not only Filipinos but also foreign travelers to visit Israel for business, pilgrimage and leisure.

When I first traveled to Israel in 2023, it was on an EL AL flight using a Boeing 787 Dreamliner. Then our Israel pilgrimage tour took place afterwards and I personally witnessed God’s Word come to life whenever we visited the many sites of the Holy Land. I encourage you all to read my feature articles about the Pool of Siloam, the Southern Steps in Jerusalem, Nazareth Village, the grave of Oskar Schindler, the Dead Sea Beach, and some nice commercial joints (click here, here, here and here).

Having direct flights between the Jewish state and the Philippines will also help my native country attract more foreign tourists as well as Israeli investors and technology developers. The Philippines right now is experiencing slower economic growth, having trouble attracting foreign investors and it remains a weak compared with its Southeast Asian neighbors when it comes to attracting foreign tourists.

As such, I encourage all of you to pray to God for the planned Israel-Philippines direct flights of EL AL Airlines to be fulfilled, and for improvements in the ties between Israel and the Philippines. As I mentioned many times online, Israel-Philippines ties are essential!

To all my readers, I encourage you to accept the truth that Israel is the land God designated specifically for the Jewish people (read Genesis 35:10-12) and His command must be followed without hesitation. If you want to be blessed further by the Lord, do so by loving and blessing the Jewish people (Genesis 12:1-3). I did my part when I was in Israel. Also, let me remind you all that the ties between the Jews and Christians are truly biblical!

I encourage you all to pray to the Lord God in support of Israel, to love and bless the Jewish people, and pray for the peace of Jerusalem.

If you truly believe in Lord Jesus, the Holy Spirit and God the Heavenly Father wholeheartedly and you continue to be faithful, you should be aware that Christians are meant to stand united with Israel and love the Jewish people no matter what. You can do your part supporting Israel by donating to Christians United for Israel (CUFI). Do not forget to read the Holy Bible, then pray in tongues to the Lord in the privacy of your room with the door shut.

Always be the fearless and aggressive church of Lord Jesus!

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ADB Says Philippine Economy Could Grow Around 6% In 2027

February 7, 2026February 2, 2026carlocarrasco

In its latest economic analysis, the Asian Development Bank (ADB) says that the economy of the Philippines could grow by about 6% in 2027 provided that investments – both public and private – would regain strength, according to a BusinessWorld news report.

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

THE PHILIPPINE ECONOMY could return to around 6% growth by 2027 if public and private investments rebound, according to Asian Development Bank (ADB) Country Director for the Philippines Andrew Jeffries.

“I think (the drivers are a) kind of a little of everything, but return to high investment, public and private, I think would be, to me, the key driver,” he told reporters on the sidelines of an event on Jan. 23.

Last December, the ADB slashed its Philippine gross domestic product (GDP) growth forecast to 5% for 2025, from 5.6% previously. For 2026, the ADB trimmed its GDP projection to 5.3% from 5.7% previously.

This comes after a corruption scandal dampened government spending, household consumption, investor confidence and economic activity last year.

The ADB will release its updated economic outlook in April, which will include a 2027 growth forecast.

Mr. Jeffries warned that the cut in Department of Public Works and Highways’ (DPWH) budget this year, could trigger a “big slowdown” in locally funded projects.

“I guess the main variable for 2026 was how fast does the public investment recover? We were thinking maybe two quarters, so it’ll start reviving,” he said.

In a meeting with Public Works Secretary Vivencio “Vince” B. Dizon in December, Mr. Jeffries said they raised concerns about “paralysis,” where key projects risked getting stuck.

“What we’ve heard is they’re trying to make sure the priority projects are not stuck and keep moving forward quickly. I think it’s a twofold exercise,” he said. “It’s cleaning up the problem while full steam ahead on some of the other projects that weren’t a problem.”

Mr. Dizon earlier said the DPWH aims to boost spending while ensuring funds are used wisely and focus on prioritizing the “basics” such as road and bridge maintenance and unfinished projects. The agency’s target spend is set between P200 billion and P250 billion for the first quarter, he added.

Meanwhile, Mr. Jeffries said the Philippines must raise the share of exports in the economy to support long-term growth, as well as diversify its base, and boost resilience.

“It’s not something that happens overnight. It’ll be a combination of policies and attracting investment and improving the business environment and all of those things combined,” Mr. Jeffries said. “But neighbors have done it and the Philippines can do that.”

He noted the Philippines was shielded from external shocks, largely because exports remain a relatively small part of the economy.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the ADB’s analysis for the Philippines is correct? Do you think the economy of the Philippines has enough strength to grow by at least 6% in 2027?

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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I Love Israel: Vietnam Boosts Ties With Israel

February 5, 2026February 2, 2026carlocarrasco

The ties between Israel and Vietnam are only getting stronger which is crucial for the Jewish state as anti-Israel hatred remains intense in many parts of the world. Vietnam did not allow itself to be influenced by those who hate Israel as it boosted its ties with the Jewish state and already a lot of related developments have happened, according to a news article by The Jerusalem Post.

Recently Vietnam joined the Board of Peace which US President Donald Trump welcomed. If you connect the dots, Vietnam has blossoming ties with America which itself is Israel’s strongest ally in the world. This shows that stronger Israel-Vietnam ties make a lot of sense. The Southeast Asian nation is also a major destination for international travelers.

To put things in perspective, posted below is an excerpt from news article of The Jerusalem Post. Some parts in boldface.

While Israeli diplomacy undoubtedly has become more complex since the October 7 massacre, the relationship between Jerusalem and Hanoi has flourished, according to Israeli Ambassador to Vietnam Yaron Mayer.

“The conflict has naturally raised concerns but did not dominate bilateral engagement,” he told The Jerusalem Post in a recent interview. “Diplomatic dialogue remained professional, respectful, and focused on cooperation. Long-term partnerships were not disrupted.”

“Vietnam maintains a balanced stance, supporting a two-state solution while continuing to value Israel as a top-tier technological partner,” he added.

Mayer, who is also Israel’s ambassador to Laos, has worked for more than a decade in Israeli diplomacy. He previously served as ambassador to Myanmar and Nepal.

Mayer said he has devoted much of his time to developing bonds on a local level. Celebrating his first Vietnamese New Year, which fell on his seventh month in the country, he joined a kindergarten class to learn how to make traditional Vietnamese Trung, a square cake made of sticky rice, green beans, and meat.

Mayer, whose mother was a famed artist born in London, also reflected on both the challenge and the beauty of learning to write a traditional word under the guidance of a calligrapher in Hanoi. The Chinese script, commonly hung on the walls of Vietnamese homes to bring good luck, was demonstrated by a local man who taught him how to write the word “AN,” meaning peace.

Vietnam boosts Israel ties with tech cooperation, tourism push – The relationship between the two countries is at an all-time high, he said, citing recent accomplishments, such as the signing of the free-trade agreement in 2023. Trade is projected to exceed $4 billion by the end of 2026, he added.

Israelis might be able to travel to Vietnam without a visa in the not-too-distant future, Mayer hinted, adding that it would be a natural next step following Hanoi’s 2023 decision to extend e-visas to 90 days.

The new direct Arkia flight from Tel Aviv to Vietnam indicates that Hanoi is investing heavily in attracting Israeli tourists, he said. Last year, at least 50,000 visitors entered Vietnam with their Israeli passports, and the Vietnamese Tourism Ministry hopes to attract 300,000 Israeli travelers by 2030, he added.

Mayer said a plan was in place to increase cooperation in technology transfer, smart agriculture, climate resilience, and digital innovation within the next five years.

Much of Israel’s environmental and agricultural technology is already being employed by Vietnam, he said. The gold standard of Israeli drip irrigation is now being scaled to address water shortages and efficient irrigation in various regions, he added, and it was being used successfully in many rural parts of the country.

Perhaps because Vietnam only recognized Israel in 1993, Mayer said he was pleasantly surprised by the depth of interest in Israeli innovation across Vietnamese institutions. There is strong demand not only from the private sector, he said, but also from provincial governments and universities.

Vietnam is eager for the opportunity to benefit from Israeli technology, and there are many opportunities for Israelis, Mayer said.

He cited strong interest from Israeli start-ups and said the embassy has begun hosting “matchmaker” events, such as the Israel Technology Connection, to link Israeli start-ups with Vietnamese provincial leaders.

FPT, one of Vietnam’s largest hi-tech and pharmaceutical companies, was one of several to benefit from the work of the embassy and opened the doors to its first Israel office a few weeks ago, Yoram Noar, the head of FPT’s Israel branch, told the Post.

The new office will focus on furthering the company’s interests in the fields of artificial intelligence, cyber, and education, he said.

“I urged the ambassador to focus on the hi-tech industry to see if we could bring the Israeli companies from the hi-tech industry into Vietnam to see if we could do joint ventures,” Noar said. “We focused on hi-tech because Vietnam has great potential, and Vietnam wants to show a growth of about 10% a year, so [Hanoi] thought Israel could be a good model of how to promote [economic and hi-tech] activities.”

As you can see, the strong ties between Vietnam and Israel resulted in a whole lot of developments that are economic, social and technological in nature. Soon enough, more Israelis will visit Vietnam while the opportunities for Vietnamese travelers to visit Israel and discover the Holy Land will multiply. Praise and thank the Lord for the stronger ties between Israel and Vietnam.

I encourage you all to pray to the Lord God in support of Israel, to love and bless the Jewish people, and pray for the peace of Jerusalem.

Always be the fearless and aggressive church of Lord Jesus!

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A Lot More Filipinos Searched For Accommodations In Vietnam In 2025

February 3, 2026January 28, 2026carlocarrasco

While the Philippines continues to endure difficulties on attracting foreign tourists (click here and here), statistics of the global travel platform Agoda revealed that a lot more Filipinos searched online for accommodations in Vietnam, according to a travel article by VnExpress.

It is recalled that Vietnam itself achieved an all-time high of 21.2 million foreign tourist arrivals counted in 2025 and among them are more Filipino visitors. Already operating are direct flights between Manila and Ho Chi Minh City.

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

Travelers from the Philippines showed the strongest interest in visiting Vietnam in 2025, with accommodation searches rising 86% year-on-year, according to travel platform Agoda.

The trend was consistent with official tourism data. The number of Filipino visitors to Vietnam reached 482,173 in 2025, up 81.3% from 2024, according to the General Statistics Office.

Air connectivity between the two countries has also improved, with several carriers launching new direct routes.

In July last year, Philippine Airlines began operating a Manila-Da Nang service with three flights a week. A month later, Vietjet opened the Ho Chi Minh City-Manila route, offering five round-trip flights per week.

“Growing international interest suggests Vietnam is consolidating its position as a leading regional destination, benefiting from improved connectivity, visa policies and diversified travel experiences,” said Vu Ngoc Lam, country director at Agoda Vietnam.

Vietnam welcomed a record 21.2 million international visitors in 2025, up 20.4% from the previous year and the highest total on record.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think a lot more Filipinos will visit Vietnam this year as the direct flights continue? What is it about Vietnam that captures the interests of foreign travelers? If you have been to Vietnam as a tourist, how much did you spend per day there?

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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