Axios

Stripe has promoted chief revenue officer Eileen O'Mara to vice chair — effectively making her the payment giant's top exec besides the founding Collison brothers.

Why it matters: O'Mara will becme the company's envoy to government leaders, regulators and top clients — a new role that's akin to what Dina Powell McCormick now does with Meta.

Penske Media Corp. has acquired Vox Media's digital brands, including The Verge, Eater, SB Nation, Popsugar, The Dodo, Punch and Thrillist.

Why it matters: This is the end of Vox, which once was at the vanguard of new media and valued by venture capitalists at $1.2 billion.

The Senate is expected to vote Monday on a bipartisan bill that includes limits on private equity ownership of single-family homes.

Catch up quick: President Trump first floated the PE piece in January, and the Senate language prevents large institutions from buying any single-family homes.

Alan Greenspan, who died Monday at age 100, created the modern Federal Reserve, and with it the underpinnings of an era of American prosperity.

The big picture: When Greenspan became Fed chief in 1987, the central bank's victory over inflation was recent and tenuous, a stock market crash was imminent, and the Federal Reserve itself was a black box, not even announcing its interest rate decisions publicly.

If a quieter Federal Reserve means yippier bond markets, stocks could be in for a ride, too.

Why it matters: In recent months, the stock market has grown especially sensitive to changes in yields on U.S. government bonds — referred to as "rates" on Wall Street — which are themselves influenced by the policy of the U.S. central bank.

Driving the news: New Fed chairman Kevin Warsh's emerging effort to ratchet back the Fed's yearslong approach to communication known as "forward guidance," which our Macro colleagues recently spotlighted.

• The Fed essentially used forward guidance to give traders and investors a lot of information about what policymakers there were thinking about the economy and how they expected to react to possible developments.
• Warsh believes that effort went too far, saying in Wednesday's news conference that "when all the financial markets are doing is reflecting back what we've said, then we're taking the most important source of information and we're being blind to it."

Yes, but: Analysts think that without forward guidance, bond markets will likely see sharper moves, otherwise known as volatility.

What they're saying: "Warsh is more clearly putting his imprimatur on the Committee's communications, and reduced forward guidance risks volatility rising over time," JPMorgan analysts wrote Wednesday.

The bottom line: If the current relationship between stocks and bonds holds, that volatility will spread to the stock market as well.

President Trump said twice in two days last week that he doesn't want to be associated with Herbert Hoover, who served during the early years of the Great Depression.

• "I have one primary wish as president, in terms of people: I never want to be the late, great Herbert Hoover," he told Marc Caputo on "The Axios Show."
• Earlier, at his press conference at the G-7 in France, Trump said: "I've studied presidents — some good, some bad, some great. ... And the one president I did not want to be was the late, great Herbert Hoover."

British Prime Minister Keir Starmer resigned Monday after weeks of turmoil within his government, setting the country up to find its seventh leader in the last decade.

Why it matters: The Labour Party, which Starmer currently leads, must quickly choose a new leader as the U.K. faces an economic crisis tied to the war in Iran.

Reddit is introducing several new ad products built around its "community intelligence," the company exclusively tells Axios.

Why it matters: As AI answer engines become more popular for shopping and recommendations, Reddit is investing in being the place consumers go to research.

President Trump on Sunday ordered immediate repairs to the Lincoln Memorial Reflecting Pool after alleging vandalism had damaged the recently renovated landmark.

Why it matters: Trump's direct intervention elevates a maintenance dispute at a national landmark into a public test of a high-profile renovation project.