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The U.S. Senate confirmed the appointment of Waller on May 13, with him set to succeed Powell as Chairman of the Federal Reserve. However, Powell will continue serving as a member of the Federal Reserve Board until 2028. At 56 years old, Waller will embark on a four-year term as Chairman of the Federal Reserve and a fourteen-year term as a Board member. Trump selected him as a bulwark against further rate hikes. Waller has long stated his desire to reduce interest rates while shrinking the Federal Reserve’s balance sheet. Currently, some Federal Reserve policymakers are considering raising rates to contain inflation triggered by the Iran war. According to minutes released on Wednesday, at the meeting held on April 28-29, most Federal Reserve policymakers believed that if inflation remained above the 2% target for an extended period, “it may become appropriate to take some policy tightening measures.”

The barometer released on Friday by research institutions GfK and the Nuremberg Institute for Market Decisions shows that the index rose by two points in May to minus 23. Consumer confidence had reached the highest level since August 2024 earlier this year, but saw a sharp decline after the conflict began.

The ruling determined that the iPhone manufacturer was found in civil contempt of court for charging fees to its App Store users for certain third-party purchases made within apps. A petition filed with the Supreme Court further escalates the years-long legal dispute between Apple and the Fortnite developer, Epic Games. Epic Games sued Apple in 2020 aiming to loosen Apple’s control over in-app transactions on its iOS operating system, as well as restrictions on how apps can be distributed to consumers. Although a judge largely dismissed Epic's lawsuit, an injunction was issued in 2021 requiring Apple to allow developers to include links within apps directing users to non-Apple payment options. Apple permitted such links but implemented new restrictions, including charging developers a 27% commission—this fee applies to purchases completed through payment systems outside the App Store within seven days after a user clicks the link. Epic argues that this new 27% commission violates the prior injunction. In 2025, the judge ruled that Apple was in civil contempt of court for violating the injunction. On Thursday, Apple urged the Justices to review two legal issues. The company stated the injunction should not apply to millions of developers because Epic is the sole plaintiff and the case is not a class action. Apple further argued that it cannot be found in contempt for allegedly violating the "spirit" of the injunction, as the order did not explicitly prohibit the conduct in question. Apple denies any wrongdoing and states that it is complying with the court’s orders.