Kevin Warsh, whose broad criticism of current U.S. Federal Reserve officials, playbook for rate cuts and ties to President Donald Trump elevated him past other contenders to lead the central bank, will be sworn in as Fed leader Friday at a pivotal moment for monetary policy and the American economy.

An unfolding boom in artificial intelligence technology is reshaping the economy in ways Fed officials say could be profound for workers, companies and consumers, but will be hard for Warsh and his colleagues to assess in real time. At the same moment inflation is already high and potentially heading higher as the economy ‌copes with shocks including oil driven ⁠over $100 a ⁠barrel by the U.S.-Israeli war with Iran, high import tariffs and utility and some other costs rising due to the AI rollout.

The debate over policy is already at a high pitch, with Fed Governor Christopher Waller, a Trump appointee who was interviewed for ​the chair’s job, on Friday making a significant turn in his own thinking and agreeing with a group of recent Fed dissenters that the central bank should drop the “easing bias” from its policy outlook and open ​the door to a possible rate hike.

With recent data showing inflation broadening and intensifying across the economy, the Fed should “make it clear that a rate cut is no more likely in the future than a rate increase,” Waller said less than an hour before Warsh was due to be sworn in, comments likely to add to market sentiment already leaning towards tighter monetary policy and a potential rate hike ​later this year. Warsh, 56, won Trump’s backing for the job over the course of what became a year-long public audition ⁠among the top ‌candidates – including one who will be seated alongside him on the Fed’s Board of Governors. Trump plans to swear Warsh in at 11 a.m. ET (1500 ​GMT) at the White House.

The new chair has laid out ambitious reform goals for a central bank he argues had begun to lose its way by the time he quit ⁠his former seat as a governor in 2011 in opposition to Fed bondbuying. Now, though, his first months may be consumed with the more pressing dilemma of whether to raise interest rates to keep inflation from moving further beyond the Fed’s 2% target, or to put his credibility as an inflation fighter, the quality he will ultimately be judged by, at risk from the outset.

“Inflation is the Fed’s choice,” Warsh said at a Senate confirmation hearing, with its control over short-term interest rates a lever it can use to boost or discourage spending, and in doing so try to keep inflation at a target the Fed has set at 2%. The Fed has missed its target for more than five years and is currently more than a percentage point above it. How to get inflation back down can involve hard choices that sometimes conflict with the policies and goals of the Trump administration, and sometimes with the Fed’s other aim of maximum employment. Warsh will be looking over his shoulder from the moment he takes the oath ‌of office as the Fed’s 11th chair – at a global bond market that has begun bidding up interest rates in a sign of growing inflation concern, at colleagues like Waller who have begun setting expectations that higher rates may be needed, and at Trump, who in the past has viewed rate hikes as a political assault on his economic program and been sharply critical of outgoing Fed Chair Jerome ⁠Powell for not lowering borrowing costs.
Warsh’s comments and approach to ongoing disputes surrounding the Fed, including a coming Supreme Court decision on Trump’s so far unsuccessful effort to fire Governor Lisa Cook, also will be watched and compared closely to Powell’s staunch defense of Fed independence.The Fed’s next meeting is on June 16-17 when policymakers vote on interest rates and a new policy statement, and ​also submit new economic projections. One of Warsh’s first substantive decisions will be whether to submit a “dot” of where he thinks interest rates will be at the end of this year, and in doing so reveal whether his views are not so different from the colleagues he has slammed for “groupthink,” or become an outlier with views that could further confuse markets that are already driving up U.S. long-term interest rates.

The Fed’s monetary policy decisions influence an array of consumer-facing and politically sensitive interest rates like those on home mortgages, while its “choice” on inflation is now being made in the context of sticker shock over things like $4.50-per-gallon gasoline that are beyond its immediate reach.

Those have become visible reminders of Trump’s lack of progress on a key presidential promise that “starting on day one, we will end inflation and make America affordable again,” which is now in Warsh’s hands to deliver.

NEW YORK — Blake Lively and Ryan Reynolds face more than $2.1 million in mechanics liens filed by five contractors and subcontractors over construction work on their estate in Lewisboro, New York.

The liens were filed in April 2026, according to documents reported by TMZ and the Daily Mail. The total amount claimed is $2,108,856.63.

Flower Construction, a luxury construction company, filed the largest claim for $1,356,157.54. The company performed framing, brickwork, electrical systems, plumbing, drywall installation and heating-cooling infrastructure on the property.

Four additional specialized subcontractors filed separate claims related to excavation work, drainage systems and environmentally sustainable heating installations.

The couple purchased nearly 110 acres of land in Lewisboro in 2018. Plans called for a 14,500-square-foot main residence, along with a pool house, gym facilities and eco-friendly heating infrastructure.

Construction on the project slowed toward the end of 2025 and came to a complete stop earlier in 2026, according to reports. No official comment has been issued by representatives for Lively or Reynolds regarding the liens or the status of the project.

The timing of the construction pause overlaps with Lively’s widely publicized legal dispute with Justin Baldoni, her co-star and director in the film “It Ends With Us.” Lively accused Baldoni of sexual harassment and running a retaliatory smear campaign. Several counterclaims filed by Baldoni were dismissed, while multiple allegations from Lively did not proceed further in court.

Lively and Reynolds, who married in 2012, have kept details of their Lewisboro property largely private. The estate project was intended to create an ultra-luxury private compound.

Mechanics liens are legal claims against a property by contractors or suppliers who have not been paid for work performed. They must typically be resolved before the property can be sold or refinanced.

The couple has not publicly addressed the specific claims. No lawsuits have been reported as of May 22, 2026.

Lively, 38, and Reynolds, 49, are among Hollywood’s highest-profile couples. They have four children together and frequently appear together at public events and on social media.

Reynolds has built a successful career in film, producing and owning stakes in businesses including Mint Mobile. Lively is known for roles in “Gossip Girl,” “The Sisterhood of the Traveling Pants” and “It Ends With Us.”

The Lewisboro property is located in Westchester County, about 50 miles north of Manhattan. The area is known for large estates and privacy.

No building permits or construction updates have been made public since the slowdown was reported. Local authorities have not commented on the project’s status.

The $2.1 million in liens represents a relatively small fraction of the couple’s combined net worth, which is estimated in the hundreds of millions of dollars. However, such disputes can delay projects and create legal complexities.

Lively and Reynolds have not listed the property for sale. The estate was envisioned as a long-term family home.

This is not the first time high-profile celebrities have faced contractor disputes during large-scale home builds. Similar cases often resolve through negotiation or settlement.

The couple continues to reside primarily in New York while maintaining properties in other locations. They have not altered their public schedule amid the reported construction issues.

Lively has remained active in business ventures, including her haircare line and film projects. Reynolds continues work on “Deadpool” and other productions.

No timeline has been provided for resolution of the liens or resumption of construction. The contractors involved have not issued public statements beyond the filings.

The Lewisboro estate project began after the couple’s purchase in 2018. Early plans reportedly included sustainable features and extensive grounds development.

As of May 22, 2026, the property remains under the couple’s ownership. Public records show no change in title or major legal actions beyond the mechanics liens.

The situation has drawn media attention due to the couple’s high profile. Entertainment outlets continue to monitor developments related to the estate and any potential resolution.

Lively and Reynolds have historically maintained privacy around their real estate holdings. Details about the project’s scope and cost have not been officially disclosed.

The liens do not necessarily indicate financial distress. They often arise from billing disputes, change orders or project delays common in large construction endeavors.

Further updates are expected as the parties involved work toward resolution. The couple has not commented publicly on the matter.

PERTH, Australia — Loved ones of Steven Mattaboni gathered on a beach near Rottnest Island on May 22, 2026, to pay tribute to the 38-year-old father of two who was killed in a shark attack while spearfishing the previous Saturday.

Mattaboni was bitten on the legs by a four-meter great white shark. He died from his injuries.

His best friend of more than 30 years, Liam Thomas, spoke publicly for the first time since the death. “Steve had two great loves: his first great love was the ocean and he was a really talented fisherman, and his greatest love was his family,” Thomas said. “He was just so proud of his two beautiful daughters.”

Thomas described Mattaboni’s character during the beach tribute. “Steve truly was the type of person that would give the shirt off his back,” he said. “He was charismatic, loyal, funny, hardworking and had so many wonderful qualities that just made him so loved by so many people.”

Family and friends stood together on the sand at one of Mattaboni’s favorite beaches. They remembered him as a proud father who worked hard for his daughters and encouraged them to enjoy the ocean.

“Steve would absolutely want us to continue enjoying the ocean the way that he did, but also encouraging his beautiful girls to enjoy the water like he did as well,” Thomas said.

Mattaboni’s loved ones emphasized remembering his life rather than the manner of his death. “It’s important not to remember his life by how it was taken, rather by how it was lived,” they stated.

Donations to support Mattaboni’s family have exceeded $376,000.

The shark attack occurred while Mattaboni was spearfishing off Rottnest Island, a popular tourist destination near Perth. His wife and two young daughters were described as his lifeline.

Thomas noted the family’s heartbreak. “Those closest to him stood side by side today as they opened up about the heartache and grief that comes in waves.”

Mattaboni was remembered through photos and stories shared by those who knew him. Friends highlighted his passion for fishing and his dedication to family.

The incident has prompted renewed discussion about shark safety in Western Australian waters. Rottnest Island is known for its marine life and is a common spot for fishing and water activities.

Western Australia has implemented various shark mitigation measures in recent years, including drum lines, surveillance and public alerts. Authorities have not released specific details about the circumstances of the attack beyond the initial reports.

Mattaboni’s death marks a tragic loss for the local community. Tributes have poured in from friends, family and members of the fishing community who knew him.

Liam Thomas recalled decades of friendship. “Moments turned into memories: priceless pictures capturing the life of Steven Mattaboni,” he said while sharing stories at the beach gathering.

The family has requested privacy as they grieve. No funeral details have been publicly announced.

Mattaboni’s connection to the ocean was lifelong. He was known among peers as a skilled fisherman who respected the sea while enjoying its challenges.

Community members have organized support for his wife and daughters. The significant donation total reflects the high regard in which Mattaboni was held.

Rottnest Island authorities have not issued new restrictions following the incident, but beachgoers are urged to remain vigilant and follow safety guidelines.

Western Australia’s shark bite incidents, while rare, receive significant attention due to the state’s extensive coastline and popularity with water sports enthusiasts.

Mattaboni’s friends stressed continuing his legacy of enjoying the ocean responsibly. “That place will always hold a special place in our hearts moving forward,” Thomas said regarding Rottnest Island.

The tribute gathering featured moments of reflection as loved ones shared memories on the beach. Photos of Mattaboni with his family and during fishing trips were displayed.

His daughters were described as central to his world. Everything he did was for them, according to those closest to him.

The Western Australian government has expressed condolences to the family. No official statement on changes to shark management policies has been made in direct response to this incident.

Mattaboni’s passing has been felt across the fishing and boating communities. Colleagues remembered him as hardworking and generous.

The beach tribute served as a public farewell while allowing private grieving for the family. Participants emphasized celebrating his life and the joy he brought to others.

Donations continue to support Mattaboni’s wife and daughters. The funds will assist with immediate needs and long-term family support.

Rottnest Island remains open to visitors with standard safety advisories in place. The island is a popular day-trip destination from Perth, known for its wildlife, beaches and historical sites.

Mattaboni’s love for the ocean was a defining part of his identity. Friends said he would want others to continue enjoying it safely.

The incident has prompted some families to discuss water safety with children. Authorities recommend swimming at patrolled beaches and heeding shark alerts.

As the community processes the loss, tributes highlight Mattaboni’s positive impact. “He was just so loved by so many,” Thomas said.

No further details about the shark encounter have been released by authorities. Investigations into such incidents typically examine environmental factors and human activity patterns.

Mattaboni’s family has not made additional public statements. Support from the broader community continues through donations and messages of condolence.

The story has drawn national attention in Australia, where shark attacks, though uncommon, generate significant media coverage and public discussion.

Western Australia’s coastline sees regular shark sightings. The state maintains one of the country’s most comprehensive shark monitoring programs.

Mattaboni’s friends plan to honor his memory through future gatherings at his favorite fishing spots. They intend to teach his daughters about the ocean in ways that reflect his passion.

The tribute on May 22 brought together dozens of people who shared stories and offered support to the grieving family.

As recovery efforts for the family continue, the focus remains on celebrating Steven Mattaboni’s life and the love he shared with those around him.

VANCOUVER, British Columbia – As the AI revolution continues to rapidly expand throughout the corporate world, many employees are facing “automation anxiety” that their job may be replaced by technology. 

Speaking on Centre Stage at Web Summit Vancouver, Kyle Hanslovan said, “I think many will be pressured in the next five years, where their job can be automated.”

Just this week, Meta began laying off another 8,000 employees, roughly 10% of its workforce, while TurboTax maker Intuit said it was cutting 17% of its global staff – about 3,000 jobs – as it accelerates its AI integration. In a company-wide memo announcing the cuts, Meta CEO Mark Zuckerberg told employees, “success isn’t guaranteed” in the AI era, though he said he doesn’t plan another round of layoffs this year.

META SHIFTS 7,000 WORKERS INTO AI ROLES AS LAYOFFS, MANAGER CUTS LOOM

Through April 2026, more than 85,000 technology sector jobs have been eliminated, a 33% increase from the same period last year, according to placement firm Challenger, Gray & Christmas. Still, despite more than 300,000 total layoffs across all industries year-to-date, that figure is roughly half of last year’s reductions – a number skewed by the mass federal government layoffs announced in the first months of the second Trump administration.

“Inevitably there will be some disruption. We can’t pretend that there won’t be,” said Sim Desai, CEO of pre-IPO marketplace Hiive Capital, speaking on the same panel. But, he added, “in the short term, there’s a lot of job creation, because a lot of people are investing in adopting AI tools.”

That cautiously optimistic view was echoed by Amazon founder Jeff Bezos, who recently told CNBC, “I think there will be a labor shortage because of AI… it’s going to elevate all of these people. We’re going to have so much productivity.”

EXPERT SAYS MASSIVE AI INVESTMENT IS ‘LAYING THE GROUNDWORK’ FOR AMERICA’S FUTURE

The average American is less sanguine. A recent Stanford University study found nearly two-thirds of Americans (64%) expect AI to lead to fewer jobs in the next 20 years. That anxiety was on full display in the now-viral video of former Google CEO Eric Schmidt’s commencement address at the University of Arizona, where he was met with loud boos after telling graduates that AI’s technological transformation would be “larger, faster and more consequential than what came before.”

New graduate hires may be the most vulnerable. Anthropic co-founder and CEO Dario Amodei has predicted that AI could wipe out as much as half of all entry-level white-collar jobs over the next one to five years. The unemployment rate for recent college graduates has already climbed to 5.6%, well above the 35-year average of 4.5%, according to the New York Federal Reserve.

US ECONOMY ADDED 115,000 JOBS IN APRIL, BEATING EXPECTATIONS

Despite the negative sentiment, companies are still hiring.

“I am definitely hiring, even now more than I was before,” Hanslovan said, noting that Huntress continues to add software engineers, detection engineers, product managers and sales leaders.

Steven Schwartz, co-founder and CEO of $1.6 billion creator marketplace Whop, said, “the future of work is in question in the era of AI,” but added that he is not “bearish that AI will take everyone’s job.” He expects he’ll “have a bigger team in two years than today.”

In spite of the percolating worker anxiety, the U.S. economy has added 304,000 jobs so far in 2026, according to the establishment survey measure of the Labor Department’s monthly employment report. The jobless rate is still sitting at a historically low 4.3%.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

That backdrop appeared to factor into President Donald Trump’s decision Thursday afternoon to postpone the signing of a planned AI executive order – one focused on having the federal government pre-vet frontier AI models for cybersecurity risks. Trump told reporters in the Oval Office that he pulled the order at the last minute because he was worried it could “be a blocker” to U.S. competitiveness in a global AI race that America still leads.

NTPC’s renewable energy arm NTPC Green Energy reported a consolidated net profit at Rs 197 crore in the March-ended quarter versus Rs 233 crore in the year-ago period, a 15% decline. The profit after tax (PAT) is attributable to the owners of the parent company.

The profit fell despite 47% revenue growth by the state-run company to Rs 913 crore in Q4FY26 versus Rs 622 crore posted by the company in the corresponding quarter of the previous financial year.

The contraction in the company’s profits in the quarter under review could be attributed to a sharp 60% rise in expenses which stood at Rs 713 crore in Q4FY26 versus Rs 445 crore in the corresponding quarter of the last financial year. The expenses grew 16% on a sequential basis versus Rs 616 crore in Q3FY26. The expenses were made under the heads like employee benefits expense, finance cost, depreciation and amortization, among other things.

The PAT surged multi-fold, rising 11X sequentially from Rs 17 crore posted in the October-December quarter of FY26 while the topline grew 40% quarter-on-quarter compared to Rs 622 crore in Q3FY26.

The profit before tax (PAT) stood at Rs 247 crore in Q4FY26, up from Rs 37 crore in Q3FY26 and down from Rs 307 crore in Q4FY25. The net profit margin in Q4FY26 stood at 21.60% versus 2.65% in Q3FY26 and 37.48% in Q4FY25 while the operating margin stood at 55.30%, 40.83% and 77.75%, respectively in the same periods.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)