Stephen Miran exits the Fed. How he set the stage for Kevin Warsh.

The outgoing Fed governor shares big ideas with the incoming chair.
How China and U.S. eased the Middle East oil shock and kept prices from spiking even higher

China and the U.S., the world’s two largest economies, wield great influence over the oil market and are using it to help plug the supply gap.
Inflation rate projected to hit 6% in the second quarter, top economic forecasters say

The recent surge in inflation is likely to get worse over the next several months, according to a survey Friday.
China will buy more U.S. oil because it is a natural trade partner, says Energy Secretary Wright

China relies heavily on crude oil imports from the Middle East but those supplies are mostly cut off due to Iran’s blockade of the Strait of Hormuz.
Wall Street’s worry du jour? The big move higher in yields

The bull market in stocks now has something new to worry about now: sky-high yields around the world.
Starbucks to lay off 300 U.S. employees, shutter some regional support offices

Starbucks said the moves will help the coffee chain return to profitable growth.
Here are Friday’s biggest analyst calls: Nvidia, Alphabet, Dell, Cisco, Netflix, Texas Roadhouse, J.M. Smucker & more

Here are Friday’s biggest calls on Wall Street.
30-year Treasury yield tops 5.1%, highest in nearly a year

Treasuries spiked on Friday as inflation signals continue to muddy interest rate expectations under the new Federal Reserve chair Kevin Warsh.
Detroit automakers have cut more than 20,000 U.S. salaried jobs as AI threat looms

Reasons for the job declines vary by automaker, but are generally tied to evolving technological changes in the industry — including the rise of AI.
Trump told Xi ‘I don’t talk about’ whether U.S. would defend Taiwan from China

President Donald Trump spoke about Taiwan after a two-day visit to China, where he said he discussed Iran, and trade deals with Chinese President Xi Jingping.