Axios

Federal Reserve chair Jerome Powell said on Wednesday that he will remain a central bank governor "for a period of time to be determined," citing attempted political interference.

Why it matters: It extends Powell's influence over monetary policy beyond the conclusion of his term as Fed chair on May 15. His term as one of seven Fed governors extends through January 2028.

U.S. Sen. Marsha Blackburn wants to redraw Tennessee's congressional map to eliminate the state's only remaining Democratic district.

Why it matters: A U.S. Supreme Court ruling on Wednesday said legislatures no longer have to consider race when drawing district boundaries. The decision opens the door to splitting up majority-Black districts across the country.

President Trump and top lieutenants met with oil and gas execs at the White House on Tuesday to discuss the energy fallout of the Iran war and the possibility of a lengthy blockade of the country, Axios has learned.

Why it matters: The unprecedented Middle East supply disruption is boosting commodity prices and creating a mix of opportunity and peril for the industry.

Driving the news: Among the attendees was Chevron CEO Mike Wirth, a company spokesperson confirmed.

The UAE may be a small country — but its decision to quit OPEC is a BFD with all kinds of market and geopolitical crosscurrents.

Why it matters: The departure of OPEC's third-largest producer, announced Tuesday, is a major blow to the market-managing cartel.

State Rep. James Talarico (D-Austin) leads his potential Republican opponents in the U.S. Senate race in Texas, per a new poll from the University of Texas.

Why it matters: A close race in Texas would expand the battleground for Democrats in their bid to retake the Senate and put a legislative check on President Trump.

The first Trump-class battleship will cost north of $17 billion, with three of them totaling more than $43 billion, according to budget documents.

Why it matters: We're finally learning a bit more about the battleship project, unveiled in December as part of the administration's Golden Fleet.

• Also included in that initiative is the future frigate, based on HII's far-more defined National Security Cutter.

Boston Police Department overtime spending has nearly doubled in the last decade, topping $100 million for the first time in 2024 and staying there last year.

Why it matters: Critics say the sustained surge in police overtime goes beyond budget anomalies and shows structural problems in how the department is staffed and scheduled.

Six facts. No hyperbole. All in the past 60 days.

1. AI is the fastest-growing product category in world history.
2. One of the latest models is so powerful that its maker won't release it to the public.
3. OpenAI and Anthropic say their most powerful AI coding models are now building themselves.
4. AI companies are growing less transparent as models grow more powerful. The federal government requires zero transparency.
5. AI resentment is building fast. In early April, the San Francisco home of OpenAI CEO Sam Altman was the target of two attacks in the same week. Shaken, he wrote: "The fear and anxiety about AI is justified ... Power cannot be too concentrated."
6. AI havoc is no longer theoretical: This year's great software rout erased $2 trillion in value as investors realized, week by week, new human tasks that the latest models would wipe out, from coding to real estate services to legal research to financial management.

Congress is far from passing military AI guardrails as Google and the Pentagon sign a new contract more permissive than for rival companies like OpenAI.

Why it matters: AI companies say they have red lines around military misuse. But barring new laws on the books, contracts with the Pentagon could remain susceptible to loopholes and workarounds.

The Trump administration moved Tuesday against three enemies of the MAGA coalition: a former Anthony Fauci adviser, Somali-run daycare centers in Minneapolis, and Jimmy Kimmel.

• A fourth, former FBI director James Comey, was indicted for a second time after a federal judge dismissed the Justice Department's case against him last year.

Why it matters: The retribution campaign at the heart of President Trump's second term is escalating, not easing, as gas prices climb, the Iran war grinds past 60 days and his approval rating sinks to record lows.