Trump’s choice of Warsh to lead Fed could reshape the world’s most influential central bank
Whether Kevin Warsh can maintain the Fed’s long-time independence from day-to-day politics while also placating Trump will be a tremendous challenge.
Associated Press
Articles
UPDATE: Trump says an IndyCar race will come to Washington, DC
The race, to take place in August, is designed to be part of the America250 celebrations this year.
Tim Cindric returns to Team Penske as Scott McLaughlin’s race strategist
When Josef Newgarden and Will Power’s cars failed inspection moments before they were due to run for the pole at Indianapolis last May, Roger Penske fired his top three executives, including Cindric.
UPDATE: Trump names former Federal Reserve governor Warsh as the next Fed chair, to replace Powell
Trump chose current chair Jerome Powell to lead the Fed in 2017 but this year has relentlessly assailed him for not cutting interest rates quickly enough.
UPDATE: Senate leaders scramble to save bipartisan deal and avert partial government shutdown at midnight
Democrats had struck a rare deal with President Donald Trump on Thursday to separate funding for the Homeland Security Department from a broad government spending bill.
Apple’s iPhone sales surge to new quarterly high despite early missteps in AI
The company will try to sustain the momentum by finally releasing a batch of delayed AI features, including a Siri upgrade.
Trump threatens Canada with 50% tariff on aircraft sold in US, expanding trade war
The threat is the latest salvo in President Trump’s trade war with America’s northern neighbor as his feud with Prime Minister Mark Carney expands.
Starbucks sees room to expand with hundreds of new stores, increased seating
Its plans include smaller-format stores that are 20% cheaper to build but still offer comfortable seating, drive-thru service and mobile order pickup capacity, it said.
Democrats block government funding package in Senate as negotiations continue to avert shutdown
Senate Democratic leader Chuck Schumer said Democrats won’t provide needed votes until U.S. Immigration and Customs Enforcement is “reined in and overhauled.”
Tesla made smallest annual profit since pandemic, plans to spend big on robotaxis and robots
CEO Elon Musk has been urging investors to focus less on car sales and more on what he considers a bright new artificial intelligence future of robotaxis.
Layoffs by big employers are piling up, heightening worker anxiety
Hiring has stagnated overall in the U.S., and tens of thousands of employees at a growing list of major firms are losing their jobs.
EPA plan would begin rolling back rule on downwind pollution from smokestacks
The Supreme Court ruled in 2024 that the EPA could not enforce the rule, which is intended to block coal-fired power plants and other industrial sites from adding significantly to air pollution across state lines.
Federal Reserve keeps interest rates unchanged even as Trump continues to press for lower rates
The central bank said there are signs the job market has stabilized while it also said growth was “solid,” an upgrade from last month’s characterization as “modest.”
Amazon cuts about 16,000 corporate jobs in latest round of layoffs
The tech giant has said it plans to use generative artificial intelligence to replace corporate workers. It has also been reducing a workforce that swelled during the pandemic.
UPDATE: Elevance shares wobble on Trump administration plans, lower projections
In a call with shareholders Wednesday, Elevance CEO Gail Boudreaux said the Trump administration’s plan to limit federal payments to Medicare Advantage “doesn’t keep pace with the current medical cost and utilization trends.”
UPS looks to cut up to 30,000 jobs this year
Last year, UPS started on a plan to reduce dependency on its largest customer, Amazon, and focus on higher-profit areas such as health care customers.
Indiana’s title defense will feature back-to-back matchups with Ohio State and Michigan
The Big Ten Conference released its 2026 league schedule on Tuesday.
Caitlin Clark joining NBC’s ‘Sunday Night Basketball’ for at least 2 games
NBC announced Tuesday that Clark—the Indiana Fever superstar with an enormous following—is joining the network’s pregame coverage for its debut of “Sunday Night Basketball” this weekend.
TikTok settles as social media giants face landmark trial over youth addiction claims
The social video platform is one of three companies—along with Meta’s Instagram and Google’s YouTube—facing claims that their platforms deliberately addict and harm children.
Trump threatens to hike tariffs on South Korean goods over inaction on trade deal
South Korean Industry Minister Kim Jung-Kwan, who is currently visiting Canada, will soon travel to the U.S. for talks with Secretary of Commerce Howard Lutnick.