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Federal Reserve chairman Kevin Warsh. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

5 big things

1.Nobody's sure where the Federal Reserve is heading

  • Neil Irwin
Three finalists emerge to lead FDA
2.Three finalists emerge to lead FDA
Amazon, Google and Microsoft dominate data centers
3.Amazon, Google and Microsoft dominate data centers
Trump hits a wall on voter fraud
4.Trump hits a wall on voter fraud
Cheaper gas means better moods for Americans
5.Cheaper gas means better moods for Americans
    • Jim VandeHei,
    • Mike Allen
    7 hours ago
    -
    Politics & Policy
    Column / Behind the Curtain
    Behind the Curtain: The cost of blind loyalty
    Photo illustration of the Statue of Freedom on top of the U.S. Capitol dome, with a red necktie covering its eyes.

    Photo illustration: Brendan Lynch/Axios. Photo: Cheriss May/NurPhoto via Getty Images

    President Trump trained elected Republicans to obey him, even when they disagreed.

    • Elected Republicans trained Trump to expect obedience, even as his demands grew impossible to satisfy.

    Why it matters: Years of Republicans submitting to Trump, often against their own judgment, have curdled into a rolling crisis as Washington nears the likely end of the GOP's two-year monopoly.

    Go deeper (2 min. read)
    • Mike Allen
    7 hours ago
    -
    Politics & Policy
    Scoop: JD Vance raises $4.2 million in Silicon Valley
    Fundraiser invitation obtained by Axios

    Fundraiser invitation obtained by Axios

    Vice President JD Vance headlined an RNC fundraiser on Thursday night in Palo Alto, California, at the residence of influential investor and All-In Podcast host Chamath Palihapitiya, raking in $4.2 million for the Republican Party, a source familiar with the dinner tells Axios.

    Why it matters: Vance, who worked in venture capital before becoming a U.S. senator from Ohio, has always had strong ties to Silicon Valley and the tech world.

    Go deeper (<1 min. read)
    • Ashley Gold
    8 hours ago
    -
    Technology
    China's AI progress strains U.S. alliance pitch
    Animated illustration of two computer chips, one with American coloring and one with Chinese coloring. Their circuits are spreading out in different directions.

    Illustration: Aïda Amer/Axios

    Washington is racing to sell the world on American AI just as China's cheap and capable models are becoming harder to ignore.

    Why it matters: Chinese models don't have to beat OpenAI or Anthropic to reshape the global AI order. They just have to be useful, available and widely adopted.

    Go deeper (2 min. read)

THE LATEST


    • Exclusive: Goldman bankers say the next AI boom is in the physical economy

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        • Why U.S. corporate profits are surging

          • Dow set to add Alphabet and drop Verizon

            • CEO: SoftBank is a golden-egg-laying goose

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