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5 big things

1.The U.S. inflation problem is getting worse

  • Neil Irwin
Scoop: Rep. Edwards aide feared retaliation over unwanted attention
2.Scoop: Rep. Edwards aide feared retaliation over unwanted attention
U.S. wants to pursue Gaza plan in areas out of Hamas' control
3.U.S. wants to pursue Gaza plan in areas out of Hamas' control
The energy stakes of the Trump-Xi summit
4.The energy stakes of the Trump-Xi summit
WATCH: Axios' Future of Health Summit 2026
5.WATCH: Axios' Future of Health Summit 2026
    • Neil Irwin
    1 hour ago
    -
    Economy
    Kevin Warsh confirmed to lead Federal Reserve
    Kevin Warsh

    Incoming Fed chair Kevin Warsh. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

    Kevin Warsh has been confirmed as the 17th leader of the Federal Reserve, becoming America's economist-in-chief at a moment of resurgent inflation, public discontent with the economy and unprecedented attacks on the Fed's independence.

    Driving the news: Warsh was confirmed to a four-year term as Fed chair Wednesday by a 54-to-45 Senate vote. He received unanimous support from Republicans but only one "aye" vote from a Democrat, John Fetterman of Pennsylvania.

    • Warsh takes the helm of the central bank after Jerome Powell's term ends Friday.
    Go deeper (2 min. read)
    • Andrew Solender,
    • Kate Santaliz
    3 hours ago
    -
    Politics & Policy
    Democrats bypass Mike Johnson on Ukraine aid with GOP help
    A man in a blue suit and glasses stands at a wooden podium with microphones, smiling. He wears a white shirt, blue tie, and a small U.S. flag pin.

    House Speaker Mike Johnson speaks at a National Day of Prayer service at the U.S. Capitol on May 7, 2026. Photo: Jim WATSON / AFP via Getty Images

    House Democrats on Wednesday secured the necessary signatures to bypass Speaker Mike Johnson (R-La.) and force a vote on a package of Russia sanctions and billions of dollars in Ukraine aid.

    Why it matters: This is the eighth time in the last three years that a discharge petition has been used by some combination of Democrats and Republicans to do an end-run around GOP leadership.

    Go deeper (1 min. read)
    • Hans Nichols
    8 hours ago
    -
    Politics & Policy
    Republicans are sweating about the White House ballroom project
    This is Donald Trump

    President Trump holds a rendering of a proposed White House East Wing addition while speaking to reporters aboard Air Force One on March 29. Photo: Nathan Howard/Getty Images

    The billion-dollar request for the Secret Service isn't dead. But it is in doubt.

    Why it matters: Senate Republicans are struggling to get comfortable with providing $220 million to "harden" security at the White House complex — including President Trump's East Wing ballroom.

    Go deeper (1 min. read)

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