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• Kevin Warsh has been nominated to succeed Jerome Powell as Fed chair.
• Senators pushed Warsh to keep the FOMC independent alongside political pressure.
• He spoke about his outlook on monetary policy and financial disclosures.

Kevin Warsh can’t change his LinkedIn job title just yet.

The former Wall Street executive joined the Senate Committee on Banking, Housing, and Urban Development on Tuesday to discuss his qualifications — and pending confirmation — as the chair of the Federal Reserve. Lawmakers asked about Warsh’s policy outlook, his loyalty to President Donald Trump, and his recently released financial disclosures.

From personal finance to political pressure, here are Business Insider’s biggest takeaways from the hearing.

Senators worry Warsh will be a ‘sock puppet’

Warsh’s confirmation isn’t a sure thing. Lawmakers across the aisle have expressed concerns about the future of Fed independence, especially as Trump has vocally pushed for steeper rate cuts. A recent Department of Justice probe into current Chair Jerome Powell raised alarm bells about political interference — and Senator Elizabeth Warren is concerned that Warsh will become a “sock puppet” for Trump.

“The Senate should not be aiding and abetting Donald Trump’s illegal takeover of the Fed by installing his chosen sock puppet as chair,” she said. “It’s an invitation for corruption and for economic catastrophe. We have the power to stop it, and we should be using that power.”

Both Democrats and Republicans asked for assurance that Warsh will not make future policy decisions based on the president’s desires.

Republican Thom Tillis renewed his vow to oppose all Trump nominees to the Fed chair position until the DOJ probe is dropped, but he said he likes Warsh as a candidate.

If confirmed, Warsh emphasized that he won’t bend to political pressure.

“I do not believe that independence of monetary policy is threatened when elected officials state their views on rates,” he said. “Fed independence is up to the Fed. That has three implications: First, Congress is tasked with the mission to ensure price stability. Inflation is the Fed’s choice. Second, Fed independence is at its peak in the conduct of monetary policy. And third, the Fed must stay in its lane.”

Warsh is bullish on AI

Fed chairs must carefully balance the dual mandate of maximum employment and stable prices. Warsh has a reputation for being tough on inflation, but he said his outlook is more future-focused than Powell’s. He said he won’t make major policy changes based on short-term geopolitical conflicts or supply shocks.

At the same time, Warsh told senators that AI growth — both in data center investment and in changes to the job market — could give a welcome boost to the economy.

“Something that I really do believe is that AI is a testament to American ingenuity,” Warsh said. “The United States is the best-positioned country in the world to take advantage of it so that the US economy and US workers benefit from it.”

Not all lawmakers agreed, with some saying AI disruptions could make life more unaffordable for American households. “What I don’t want to see is us use AI as an excuse for making good policy — too many families’ lives depend on this,” said Senator Lisa Blunt Rochester.

As Powell often says, “We’ll need to wait and see.”

The wealthiest Fed chair in history

After being submitted to the Senate committee days late, Warsh’s financial disclosures show he is worth well over $100 million. In 2025, he earned money from consulting, speaking gigs, and investment in the prediction market platform Polymarket.

If confirmed, it’s likely that Warsh would be the wealthiest chair to ever lead the central bank. He is also married to Jane Lauder, a member of the billionaire family behind the cosmetics giant Estée Lauder.

Some of his investments, however, remain undisclosed due to confidentiality agreements. Notable investments include two assets in the “Juggernaut Fund, LP” worth at least $50 million each, along with roughly 60 assets associated with THSDFS LLC, each worth at least $22 million.

Senator Warren asked Warsh at the hearing if any of these undisclosed investments are tied to Trump’s business interests, money laundering schemes, Chinese-controlled companies, or the Epstein estate.

Warsh did not answer directly but said he would divest from any potential conflicts of interest before taking an oath as chair. In a deal with the Office of Government Ethics, Warsh said he agreed to divest within 90 days of confirmation.

Senators still need to vote, and Powell will remain as chair until at least May 15.

“We’ll try to keep politics, if I’m confirmed, out of the Federal Reserve,” Warsh said.

• Tim Cook is stepping down as Apple CEO after 15 years.
• Although Cook didn’t create the iPhone or iPad, under his reign, it was perfected into something I love.
• Even during peak “tech backlash,” Cook and Apple maintained consumer trust.

Tim Cook, I want to thank you for something. Thank you for that thing when you get a five-digit login code texted to your phone, and it autofills with just a single tap. This feature is so beloved that I see odes to it pop up as sort of copypasta on meme accounts on Instagram and elsewhere.

“Security Code AutoFill” was a feature added to iOS 12 back in 2018, and I love it because, to me, it feels like such a perfect example of the kind of technology I love: a simple solution to a problem you didn’t even realize could have one. It makes your life better, easier, less frustrating — and it simply just works. For this feature alone, which has saved me countless seconds and a lot of annoyance, I give my undying thanks to Tim Cook.

When Cook took over as Apple’s CEO in 2011, I owned an iPhone and a MacBook, but I didn’t have a particular love for Apple. I found both products expensive, intimidating, and frustrating. That’s partly because it was 2011 and partly because of my own bad attitude. Over the next 15 years, I grew to love these devices — right now, I’d marry my phone like the woman and the Eiffel Tower if I could.

Of course, I know that Cook didn’t personally engineer the security code autofill, portrait mode on the cameras, or any of the other tiny life-changing improvements. I’m also aware that one of the criticisms about Cook’s tenure is that the truly paradigm-shifting, visionary hardware breakthroughs like the iPhone and iPad came from Steve Jobs, and Cook merely steadied the course.

But to me, those consistent incremental improvements to phones and laptops were what made me fall in love with Apple products. I grew excited for each Apple event in September and for WWDC in the spring, when new features would be announced. At times, I felt skeptical about how useful some of these would be, or even annoyed that the features seemed to be always targeted at someone richer, older, and more male than I am. But slowly and surely, Tim Cook turned me into something disgusting — something I never thought I’d be: an Apple fanboy.

I realized I was down bad a few years ago during the announcement of the Apple Watch Series 7, a fairly minor update. The most interesting thing was a dark green watch added to the lineup. (It’s my favorite color.) I found myself drooling, “I want that!” Even though I already had an Apple Watch Series 3 that worked perfectly fine on my wrist. (Don’t worry. I didn’t actually buy the new one. I’m an enthusiast, not a spendthrift.)

Apple avoided most of the Big Tech backlash

The context of the times is important here: This was during the peak of the “techlash” of the 2010s, when tech journalists like me scrutinized the industry and were more interested in stories about corporate accountability than gee-whiz-aint’t-this-cool. Many of the Big Tech companies at the time were indeed doing some pretty questionable things, and many tech CEOs seemed morally compromised, willing to do terrible things in pursuit of endless riches and power.

Apple (while by no means a perfect company!), with its strong user privacy policies, stood in contrast to other Big Tech peers like Facebook and Google at the time, and that made it feel more trustworthy. Cook himself, compared to a Mark Zuckerberg, Elon Musk, or Travis Kalanick, seemed more like the responsible, measured adult in the room.

Cook did more than just keep the ship steady after Steve Jobs — he did so during a time of typhoons and hurricanes — and that steady consistency is what won me over as a consumer (not necessarily as a tech journalist; on that level I would’ve welcomed some more spicy scandals).

The incoming CEO, John Ternus, previously the head of hardware, will take over at a tough moment for Apple, which has fallen behind in AI. I’m not sure what this means for the near future, but I do wonder if, considering surveys that keep showing how much normal people don’t trust or like AI, perhaps this was a blessing in disguise: not adding a bunch of imperfect AI features into our beloved iPhones has helped keep its consumer-trust ratings high.

Last week, I desperately needed to charge my phone while passing by an Apple store, so I popped in to charge while pretending to look at phones. I happily chatted with a friendly sales clerk about the new Neo laptops, which chips they use, and other specs — something that in 2011 I absolutely would not have cared about or understood, even though I was an adult who bought laptops then, too. But 15 years later, I’m a changed woman. Tim Cook, thank you for making me into a certified gadget freak.

A ceasefire between the US and Iran is set to expire on Wednesday. Both sides have already accused each other of breaking it.

• I grew up going to a big family reunion every year.
• It’s always felt like a celebration, and as my life changed, attending was a familiar comfort.
• Now, I bring my two sons, and I’ve realized what an impact the tradition has had on my life.

For as long as I can remember, we spent the Saturday before Father’s Day with our extended family nearby at my cousin’s home outside Philadelphia, swimming, dancing to live music, and immersing ourselves in the company of our cousins. Some traveled from as far as California, and we’d mingle with our relatives from 2 p.m. until dusk. It was magical — and yet so ordinary in my youthful mind.

As a child, I knew I was part of a vibrant gathering — an occasion akin to a wedding or Bat Mitzvah — but it wasn’t until I became a mother that I understood the impact these gatherings had on my life.

It’s always been an unforgettable day

My great-great-grandmother, Sadie, had 10 children, including my great-grandmother, and each went on to have their own family. When our reunions began in the mid 80s, these 10 siblings were the matriarchs and patriarchs of our family. They’d gather on the patio, sharing stories and kissing every child until lipstick on the cheek became the family trend. And while the little girl in me understood this to be a vivacious family celebration, I couldn’t yet comprehend how these celebratory summer days would truly shape me.

During my elementary years, these gatherings felt universal; they were woven into my childhood, written into our calendar like a holiday. With cousins around my age, we swam until our fingertips wrinkled. We devoured hot dogs and soft pretzels to hold us over until dinner before visiting the frogs in the pond and hitting a ball or two on the tennis court. My brother and I were three years apart, but there, I bonded with cousins born within months of me.

We have a talent show, a magic show, and eat delicious food

As we buoyantly meandered the grounds, the adults emitted a sense of appreciation through infectious smiles, so radiant even the children noticed. In the early 90s, the Philadelphia Mummers — a group in costume that sing and dance during the Philadelphia New Year’s parade — marched into our family reunion as if we were standing on South Broad Street on January 1st. A talent show allowed the children to display our various instrumental skills, singing voices, and even juggling proficiency. And each year we demonstrated our progress.

A professional magic show usually separated the afternoon from the evening, but as a child, it all morphed into another celebration in the collection of many, leaving a permanent feeling of belonging, one I couldn’t comprehend at the time.

As daylight dwindled, we sat at tables beneath the melting sun, eating crabcakes, grilled shrimp, corn salad, sauteed vegetables, and filet. We devoured ice cream cookie sandwiches for dessert as lightning bugs lit up the sky while sharing family stories and remembering those we missed. Family shirts were printed numerous times; they still linger in the bottom of my drawers, a reminder that I am part of a village.

While we grew physically and intellectually, these grounds remained unchanged, and each time we returned, so did a sense of wonder that children often lose as they approach their teen years.

As my life changed, this tradition was a comfort for me

When I was in college, my life shimmied to a small town three hours away, and summers at home were a welcomed comfort. Our family reunion became a connection to my childhood, a reminder that while much of life changes, few precious things remain the same. As my responsibilities increased and adulthood grew closer, transitions became overwhelming.

But there was always that one day in June where I’d reconnect with a piece of my youth, swimming in the pool, visiting the frogs, and mingling on the grounds that held a chapter of my childhood. Being in a familiar location with family once again, as memories from years passed flooded my brain, became my comfort amid so much adjustment.

Bringing my sons has shown me the impact the reunion has had on my life

Now, my two boys, 14 and 11, are growing up with the same tradition, and I see myself in them as they swim with their cousins, jumping from the very diving board I stood on not long ago. I watch them laughing as they sit on the same hill I perched on as the magician pulls the ace of spades from the card deck. And for a moment, it’s as if time has stood still. I return to the little girl who wandered those grounds year upon year, unknowingly building a sense of belonging. Only now, I’ve become one of the adults with an infectious smile.

This June is our 40th reunion, and I can’t imagine a life without these gatherings. When my children go off to college, I hope this day remains their constant, providing balance in their ever-changing world. One day, they’ll realize these gatherings are anything but ordinary — they are the days that stand out among the rest.

US Central Command shared a video showing a US Navy destroyer firing at an Iranian cargo vessel in the Arabian Sea. The USS Spruance intercepted the ship after its crew refused repeated warnings to stop. After verbal warnings and the sounding of an alarm, the destroyer fired rounds onto the cargo ship with its MK 45 gun.

According to CENTCOM, US Marines now have custody of the ship. Iran confirmed the seizure of the vessel, and said it would retaliate “soon.”

• Music marketing now includes agencies that use sock puppet accounts to post songs on TikTok.
• It sometimes makes it hard to determine what’s organically popular and what’s spreading online because of “clipping.”
• A marketing agency promoted the songs of buzzy rock band Geese by flooding TikTok with clips, a new report says.

I consider myself fairly knowledgeable about how the internet works.

I can usually tell if a piece of content is “organic” or advertising. And yet, there’s always the unknown unknowns: You might think you can always tell if someone has a bad toupee, but what about all the good ones that you didn’t notice?

Yet, I feel more and more that we are living in a time of undetectable toupees on the internet. And even I have to admit that I am an easy mark these days.

Take the recent kerfluffle over a WIRED article about how a marketing agency promoted the songs of the buzzy rock band Geese by flooding TikTok with videos from accounts created by the agency, a tactic the agency’s founders described in detail in a Billboard podcast interview. (The agency didn’t return BI’s request for comment.) This set off a lot of discussion about whether these strategies are just the latest form of marketing for the music industry, or some nefarious “psyop” (the consensus seems to be the former).

I am less concerned with music promotion than I am with the idea that, indeed, there is a lot of fake content floating around, and I am less and less equipped to accurately identify it when I come across it.

How ‘clipping’ makes it harder to tell what’s authentic

A lot of this is the proliferation of “clipping” — paying people to post short clips of longer content, like the most interesting 30 seconds of a podcast interview or the craziest moment of an eight-hour livestream. Have you noticed clips of the looksmaxxer Clavicular all over your social feeds lately? Those aren’t being posted by his official account — they’re from clippers.

This new clipping economy also extends to music and traditional media like TV and movies, and it is increasingly hard to tell whether a clip you scroll past in your feed is part of a paid campaign.

For example, I looked at the Discord channel for a clipping agency, where various ad campaigns will offer money in exchange for views.

A stand-up comedy special being broadcast on a streamer was offering $65 per 100,000 TikTok views. A right-wing podcast was offering $150 per 100,000 views for clips made with its Rumble stream. A popular personal finance YouTuber was offering $75 per 100,000. That campaign had some instructions: “very simple, don’t make [YouTuber] or the guest(s) look unnecessarily bad … let the content itself do the talking.”

Putting out short clips from longer videos or streams is simply the current way of doing things, and the results are obvious. One analysis of the audience for TBPN, the tech news livestream that OpenAI just bought, showed that while the livestreams average only 7,000 viewers, the clips average 257,000 views. That’s a big difference!

To be clear: Geese is a popular band that people like; Clavicular is a popular internet figure; TPBN is a popular news podcast — regardless of any clipping. You can’t fake content people find appealing — people have to actually like it for this stuff to go viral and show up in your algorithms.

But still, we often mentally gauge the popularity of something by how often it pops up in our social feeds. And the fact that some of these videos are being boosted by forces other than pure fandom, well, that is clouding our perception a bit.

Over the last decade, we have honed our BS-detectors for certain kinds of advertising or marketing — the way an influencer tags a brand, or a celebrity wears a clothing label. But this is a new twist — something to wrap our heads around, and it’s clearly effective marketing for now, perhaps precisely because we aren’t good at detecting it (yet).

Of course, only an idiot would believe that everything they see online is authentic. You and I? We’re not idiots! I’m giving us some grace here to admit we’re getting fooled lately.