by admin | Mar 28, 2025 | economic policy, economics, inflation, macroeconomics policy, politics
WASHINGTON, D.C. — A top Federal Reserve official stated on Thursday that it appears “unavoidable” that Donald Trump’s tariff proposals will lead to higher near-term inflation, though this rise might not last long.
After coming back to the White House, Trump has issued threats about imposing tariffs on major trade allies — such as China, Canada, and Mexico — but then partially rescinded these measures, leading to uncertainty among both investors and political figures.
He has levied a 25 percent duty on steel and aluminum imports, declared a 25 percent tariff on incoming cards, and intends to implement additional tariffs the following week.
“Tariffs appear certain to drive up inflation in the short term,” said Boston Fed President Susan Collins at an event held in Boston.
“If an uptick in pricing levels filters through to inflation rather swiftly,” stated Collins, who holds a voting position on the Federal Reserve’s interest-rate setting panel this year. “Subsequently, fundamental inflationary pressures will start playing out.”
“So my basic perspective is shaped within that framework,” she went on, noting that should further tariff rounds occur or become wider-ranging, the resulting inflationary effects might likely “linger longer.”
Collins’ remarks mirror those of her fellow Federal Reserve member and St. Louis Fed President Alberto Musalem, who similarly holds a voting position on the U.S. central bank’s interest-rate committee this year.
On Wednesday, Musalem contended that tariffs might cause a probable immediate and short-term rise in prices, along with an additional indirect effect that could exert a more enduring influence on inflation.
The team at the St. Louis Fed calculated that the overall impact on inflation might be as high as 1.2 percentage points — a considerable rise considering that inflation continues to stay above the Federal Reserve’s longstanding objective of 2%.
The Federal Reserve has a two-part mission to address both inflation and unemployment, mainly through adjusting its primary interest rate up or down.
If inflation remains stuck above the Fed’s target and the labor market remains relatively healthy, the Fed could be forced to pause rate cuts for longer, which would keep the cost of borrowing for both consumers and businesses elevated.
Surveys measuring consumer confidence have indicated a significant drop following President Trump’s return to office, as participants expressed worries regarding the impact of tariffs on the economy and voiced concerns over increasing inflation rates.
Earlier this month, Fed officials penciled in two rate cuts this year, while raising their inflation outlook and cutting their forecast for economic growth.
by admin | Mar 28, 2025 | economics, government, international trade, politics, politics and government
MANILA, Philippines – Trade Secretary Ma. Cristina Roque plans to meet with her American peer to address the possible negative effects on the economy due to President Trump’s suggested reciprocal tariffs, which have unsettled financial markets and heightened anxiety among traders and investors.
“I have scheduled a meeting with my peer. Therefore, I am merely awaiting the details of the appointment,” Roque stated to journalists during his break at the Asia CEO Forum on Thursday when questioned regarding the matter.
Roque mentioned that things will continue “as normal” for the moment, dismissing worries regarding the impact of the tariffs set to begin next week.
READ:
Surge of Trump tariffs expected to impact family finances
“So, let’s keep doing what we’re doing, focus on the bright side, and continue to develop and truly elevate ourselves. We should also seek out opportunities to genuinely become experts in our field,” Roque stated.
Trump just announced a 25-percent tariff on imported vehicles and automotive parts, effective April 3.
The automotive sector in the United States has raised worries that such actions could result in increased vehicle costs along with decreased availability, causing shares of leading companies like General Motors and Ford to decline after the news was released.
Trump defended the tariffs as a step to safeguard American manufacturing positions and suggested the possibility of imposing additional duties on various sectors.
In the case of the Philippines, these duties might bring about considerable economic impacts.
As the United States is a key market for Philippine exports, notably in the automotive industry.
In 2024, the Philippines shipped around $1.89 billion worth of machinery and electric goods to the United States, as stated in a CPBRD document. The CPBRD serves as the research wing of the House of Representatives.
The Philippines is cautious about the new U.S. tariff policy since the country exports significantly more than it imports from the United States, leading to a trade surplus of $4.9 billion in 2024, which marks a 21.8 percent rise compared to the prior year.
This excess might attract unwelcome notice from the Trump administration, viewing trade surpluses as evidence of imbalanced trading tactics.
by admin | Mar 28, 2025 | government, greenland, politics, politics and government, politics and law
Lawmakers in Greenland reached an agreement on Thursday to establish a new government as they faced increased pressure along with fresh threats from U.S. President Donald Trump regarding the potential annexation of this Danish-controlled Arctic territory.
Four out of the five political groups that won seats in Greenland’s Parliament last month have decided to join forces and create a coalition with control over 23 of the 31 available legislative positions. This deal is expected to be formalized on Friday, as reported by regional news outlets.
The accord occurs as Trump escalates and strengthens his attempts to take command of the Arctic territory “by one means or another”.
The US Vice President, JD Vance, is set to arrive in Greenland on Friday. Accompanied by his spouse, Usha Vance, he plans to visit the United States’ Pituffik Space Base, an installation involved in missile monitoring and defense activities.
Initially, Usha planned to make the trip alone, but on Wednesday, JD declared he would join her so she wouldn’t have “all that fun by herself.”
Jens-Frederik Nielsen, who leads the Demokraatit party—the largest group in parliament—has been keen on establishing a wide-ranging coalition. Ever since his center-right party unexpectedly won the elections on March 11th, Nielsen has maintained that swiftly forming such a coalition is crucial for withstanding American influence.
Greenland’s Prime Minister Múte Bourup Egede has strongly criticized the Vance family’s planned visit, referring to it as “highly provocative.”
“Up until recently, we could confidently depend on the Americans, who were our allies and friends, and with whom we enjoyed working very closely,” stated Egede to the local press.
“But those days are gone, we must acknowledge this, as the new American leadership is entirely and totally unconcerned with what we’ve jointly upheld until now; they’re simply intent on seizing control of our nation above our heads,” he said additionally.
Trump covets Greenland, a self-governing region of Denmark, because it has rich mineral deposits and straddles strategic air and sea routes at a time when the US, Russia and China are all vying for position in the Arctic.
Putin isn’t taken aback by the revived U.S. interest in Greenland.
Russian President Vladimir Putin stated on Thursday that Trump’s initiative to gain control over Greenland was not unexpected, considering the long-standing American interest in the mineral-abundant region.
At a policy discussion held in the Arctic city of Murmansk, Putin pointed out that the U.S. contemplated strategies to gain dominance over Greenland during the 1800s, and later proposed purchasing it from Denmark following World War II.
“It might appear astonishing initially but it would be incorrect to think this as mere sensational rhetoric from the present US administration,” Putin stated.
It’s clear that the United States will keep pushing forward with its strategic goals related to geopolitics, military presence, and economics in the Arctic region.
Trump irked much of Europe by suggesting that the United States should in some form control the self-governing, mineral-rich territory of Denmark, a US ally and NATO member.
Being the maritime entry point to the Arctic and North Atlantic routes towards North America, Greenland holds significant strategic importance due to China and Russia’s interest in utilizing its sea passages and exploiting its natural wealth.
Putin stated that Russia is concerned about NATO’s actions in the Arctic and plans to address this by bolstering its own military presence in the area.
“We are definitely worried about NATO members referring to the Far North as an area where potential conflicts might arise,” he stated, pointing out that neighboring countries to Russia—Finland and Sweden—are now part of the alliance.
Russia has not posed any threat to anyone in the Arctic region; however, we will keep a close watch on the unfolding events and respond appropriately by enhancing our military capabilities and upgrading our military facilities.
Russia has aimed to extend its control across large parts of the Arctic, contending with the United States, Canada, Denmark, and Norway. This push comes as global warming leads to diminishing polar ice, opening up fresh possibilities for resource extraction and navigation pathways.
China has likewise exhibited growing interest in the area, thought to contain as much as one-quarter of the planet’s untapped oil and natural gas resources.
“We will not permit any violations of our nation’s sovereignty, steadfastly protect our national interests, and at the same time advocate for peace and stability in the polar regions,” stated Putin.
As he committed to bolstering Russia’s military presence in the Arctic, Putin emphasized that the Kremlin remains open to wider global collaboration in the area.
by admin | Mar 28, 2025 | elections, government, politics, politics and government, politics and law
CANBERRA — On Friday, Prime Minister Anthony Albanese announced that Australia has scheduled a general election for May 3. This sets the stage for debates centered around climate policy, nuclear energy, and the rapidly escalating housing market.
In May 2022, Albanese’s center-left Labor Party assumed power, ousting a conservative administration that had become highly disliked after nearly ten years in control.
However, the early excitement surrounding Albanese, who is 62 years old, has faded over the past few months as the government approaches the conclusion of its three-year tenure.
Surveys indicate he is running even with conservative Peter Dutton, aged 54, a tough ex-detective aiming to reduce immigration levels and revoke the prohibition on nuclear energy.
“In recent years, the world has presented many challenges to Australia during these unsure times,” the prime minister stated to journalists.
Thanks to the strength and resilience demonstrated by our people, Australia is starting to recover. On May 3rd, you will decide the path ahead.
Albanese stated he was “poised from birth” to tackle climate issues, tariff disruptions, and the persistent effects of inflation.
He cautioned any external adversaries looking to interfere with the election campaign to “step away.”
Australia, a powerhouse in coal mining, faces a choice between two contenders who have vastly different views on climate change and emission reductions.
Albanese’s administration has supported the worldwide move toward reducing carbon emissions, cautioning about an era where iron ore and environmentally harmful coal exports will no longer bolster the nation’s economy.
His campaign slogan is “building Australia’s future” — a platform that encompasses substantial support for renewable energy and eco-friendly manufacturing initiatives.
Earlier this week, the government revealed unexpected tax reductions through their yearly state budget allocation. At the same time, they directed funds towards conventional labor priorities including education and health care.
“Determining Australia’s course correction,” is the opposing motto of Dutton.
Dutton’s hallmark policy involves a $200 billion plan to build seven large-scale nuclear power plants, eliminating the necessity of increasing renewable energy sources.
He has pledged to reduce immigration by 25 percent and implement “tighter limits” on the number of international students permitted to study in Australia.
Surveys indicate that issues like expensive living costs, particularly housing prices, will be central to the election.
Even though inflation has decreased under Albanese—from 7.8 percent in 2022 to 2.4 percent in December—many families continue to grapple with elevated costs of food, fuel, and electricity.
Each party has pledged to address the scorching real estate market.
The major Australian cities of Sydney and Melbourne have now landed spots within the top ten least affordable housing markets globally, as indicated by the yearly Demographia affordability index.
‘Not a monster’
Albanese has dedicated much of his adulthood to political work, climbing up the ladder within the Labor Party starting from modest working-class origins.
He promotes his affection for independent music and his scruffy cavoodle named Toto — and he once notoriously stated that “combating conservatives” was his mission.
Dutton, a former narcotics investigator, is commonly regarded as a tough political enforcer known for his straightforward approach.
Part of his success will depend on attempts to make himself more approachable and expand his attractiveness.
Dutton’s spouse previously confided to a scandal sheet that her oft-misunderstood partner was “far from a monster.”
A seasoned minister from the former conservative administration, Dutton has overseen significant departments including defense and home affairs.
However, he encountered significant backlash due to his strict approach towards handling asylum seekers during his tenure as Australia’s immigration minister.
Independents day
The political scene in Australia has historically been led by Albanese’s leftist Labor Party and Dutton’s rightist Liberals.
However, increasing dissatisfaction among voters has encouraged independent candidates who advocate for more openness and advancement on climate issues.
Surveys indicate that 10 or more independent crossbenchers might wield the deciding vote — which makes the prospect of forming an unusual minority government quite likely.
The two main political parties in Australia generally concur on matters of defense and national security, pledging their country to a progressively stronger military partnership with the United States.
However, they have had disagreements regarding China before.
Albanese has increased interaction with major trade ally China and achieved a significant visit to Beijing in 2023, becoming the first Australian leader to make such a trip in seven years.
The former conservative administration had strong disagreements with China, leading to a trade conflict that resulted in significant financial losses for Australia amounting to billions of dollars before calming down towards the end of last year.
by admin | Mar 28, 2025 | democrats, news, politics, politics and government, politics and law
Democrats
had been covertly plotting regarding the previous President
Joe Biden
to
step down from the presidential contest
Or even “pass away in office” as early as 2023, according to a scathing new book.
Top party officials, led by former Vice President
Kamala Harris
Communications Director Jamal Simmons drafted backup strategies for numerous scenarios ahead of the 2024 election.
One scenario included that ‘Biden might die in office,’ according to Jonathan Allen and Amie Parnes’
forthcoming book “Fight: The Most Wild Struggle for the White House”
The book states, ‘They aimed to ensure the party was prepared for all potential scenarios should Biden initiate his campaign and subsequently withdraw before the primaries; or if he secured numerous primary victories but became unable to proceed.’
according to The Guardian.
‘If he obtained sufficient delegates to secure the nomination but withdrew prior to the floor vote at the convention and consequently created an opening at the head of the ticket after accepting the nomination.’
The secret discussions centered around what the party guidelines outlined for such situations and how those regulations might require modification should the president lose either the willingness or the capability to continue leading.
One of the plans they came up with was a ‘hit list’ of judges who could administer the oath to Harris if the 81-year-old president at that time died, according to the book, which refers to two anonymous sources for this information.
Simmons ‘never told the Vice President about the death-pool roster before leaving her camp in January 2023, but he advised colleagues that he should be notified immediately if something happened to Biden, because he had worked out an entire communications strategy,’ the book says.
He then left the spreadsheet with another Harris aide.
One official participating in confidential discussions emphasized the concern that Biden might not be able to make it,
election
As they noted by Allen and Parnes, ‘This demonstrates the efforts required to adapt under such extraordinary conditions—we were dealing with someone over 80 years old who was leading the charge.’
Nevertheless, Biden stayed resolute about securing a second term, supported greatly by his spouse, the former First Lady Jill Biden—even as he did so.
had a string of public missteps and blunders.
But when Biden
came face-to-face with Republican nominee Donald Trump
During a summertime debate, the president’s diminishing mental sharpness became undeniably clear.
Later, ex-President Barack Obama and other prominent figures such as former House Speaker Nancy Pelosi,
moved forward to attempt persuading Biden to resign.
At the same time, they began to see Harris as the only alternative.
“One seasoned agent encapsulated the sentiment of Democrats who were concerned about potentially ending up with Harris but still wanting Biden to step down by saying, ‘At least she has a heartbeat,'” Allen and Parnes write in their upcoming book set for release next week.
On July 21, Biden finally declared that he wouldn’t run for re-election anymore—instead, he backed Harris to take his place as the party’s candidate.
Yet he still demanded complete loyalty from his vice president, according to the book.
It
states that on the day of Harris’ initial debate with Trump, Biden phoned the vice president for some encouragement.
However, it turned out to be more instructions to protect Biden’s legacy, with a three-word warning.
‘No daylight, kid,’ Biden reportedly said to the then 59-year-old Harris.
The former president would
often used that phrase to connect John McCain with George W. Bush before the 2008 election when he was running alongside him.
Obama
.
In the end, Allen and Parnes suggested whether Harris won or lost in her race against Trump ‘she would only harm him by publicly distancing herself from him’ as Biden staffers remained with her campaign.
At some point, according to the authors, Sean Clegg—a Harris aide distrusted by the Biden staff—was assisting the vice president get ready for an event alongside his running mate, Tim Walz. During this preparation, she began enumerating various achievements they had both made together.
According to the book, Clegg swiftly intervened.
‘Wait, wait, wait! Let’s not do this. Let’s not go down memory lane,’ Clegg said, according to an excerpt previously published by
The Hill
.
For the remark, Clegg was reportedly disinvited from future media prep sessions by longtime Dem communications staffer Stephanie Cutter.
Harris aides have also claimed that the Biden team was deliberately not working with them as a result of the president being forced to drop out.
Previously, Biden was blamed by senior Harris advisor David Plouffe for her loss because he refused to drop out of the race sooner.
He had claimed no Democratic candidate could have won without a proper primary process—what he called ‘the cardinal sin’ of this race.
And he mentioned that he was taken aback by the internal poll results once he eventually became part of the team.
Biden
left just before completing four months, describing his exit as ‘disastrous.’
“When I entered, it was the first time I actually saw the figures behind the scenes. These numbers were quite shocking,” he shared with The Atlantic.
Ultimately, Harris and Walzoczny
lost each individual battleground state to Trump
resulting in a decisive electoral college victory.
This signifies the first defeat for a Democrat ticket in the popular vote since 2004, and only the second time since 1988.
Read more
by admin | Mar 28, 2025 | elections, news, news media, politics, politics and government
MANILA, Philippines
– Over 41,000 aspirants for local offices in the May 12 election will begin their campaigns on Friday.
According to data provided by the Commission on Elections (COMELEC), there will be a total of 41,342 contenders vying for positions such as district representative, governor, vice governor, member of the provincial board, mayor, vice mayor, and councilor in the forthcoming elections.
The 45-day campaign period for local candidates will run until May 10.
In light of this, Commission on Elections Chairman George Garcia cautioned all contenders on Thursday to adhere rigorously to the established campaign regulations.
READ:
Operation Baklas was stepped up as the election season for local positions approaches.
Where can we typically find campaign posters in Cebu for the 2025 elections?
Local election intensifies as posters are layered one over another – Comelec
To local candidates, always keep in mind the guidelines set by the Comelec,” he stated. “Avoid being obstinate.
According to Comelec Resolution No. 11086, acceptable forms of campaign materials include pamphlets, flyers, cards, decals, stickers, or similar documents where neither dimension exceeds 8 1/2 inches wide nor 14 inches long. Additionally, hand-drawn or printed messages encouraging votes for specific parties or candidates for public positions are permitted. Posters or stands limited to sizes up to 2 feet tall by 3 feet wide, as well as banners measuring a maximum of 3 feet high by 8 feet long when shown during gatherings or rallies at the venue, also comply with these regulations.
Applicants can utilize campaign resources through mobile units and vehicles, be they powered by engines, people, or animals, with or without audio equipment like loudspeakers and lighting fixtures; purchase ads in printed publications or broadcasts; leverage privately-owned outdoor structures such as static posters or LED billboards; employ moving advertisements inside public transportation vehicles; and display signs at their party offices.
Campaign period: Materials
In contrast, individuals aiming to secure positions at the local level are barred from using LED displays situated alongside roads and streets for their promotional materials. They’re also not allowed to use LCD screens mounted on public building walls or comparable equipment managed by local government entities, GOCCs, or governmental departments and offices. Additionally, they cannot utilize motor vehicles employed as police cruisers, emergency response units, or other related functions—vehicles which may belong to local governments, GOCCs, or state-run organizations, especially those with official tags—and this restriction extends to publicly operated transit systems like MRT, LRT, PNR trains, among others.
Additionally, it is deemed unlawful to place election propaganda on waiting sheds, pavements, streets, lampposts, electrical poles and lines, traffic signs, and various billboards installed on state-owned land. This also includes pedestrian overpasses and underpasses, elevated roadways, bridge structures, major arterial roads, median strips of highways and city streets, educational institutions, community shrines, village administrative centers, governmental facilities, healthcare centers, publicly funded constructions, and any building therein. Furthermore, placing such materials inside areas managed by the government and used for public transportation—such as bus depots, airports, harbors, docking points, piers, railway stations, and similar locations—is prohibited.
Political advertisements
According to Comelec regulations, for political ads on TV and radio, each local candidate can broadcast up to 60 minutes of television commercials per channel and up to 90 minutes of radio spots per station.
For every candidate vying for either national or local elective posts, the largest permissible dimensions for their politically themed print ads are restricted to one-quarter of a page in broadsheet format and half a page in tabloid format. Additionally, these adverts may not appear more frequently than thrice weekly within any single newspaper.
Those who participate in outdoor campaign ads are limited to just one month of advertising on either a static or an LED billboard, with these billboards spaced at least 500 meters apart from each other.
Garcia mentioned that he instructed the local Comelec staff to install additional shared poster spaces in their respective zones.
Regarding the conduct of campaign rallies, Garcia stated that aspirants and political organizations must follow guidelines set forth by local government entities, which includes obtaining the required permissions.
“Additionally, ensure that you won’t create disruptions in the streets or lead to major traffic jams,” he said.
The election official stated that those who violate these guidelines will receive notifications that will be sent to the relevant candidates.
“Do not ignore the notifications to take down. This is preliminary to filing a case against you,” Garcia further stated.
(PNA)
