This week: Kevin Warsh took over as Federal Reserve Chair, while Jerome Powell will remain on the board. <a href="https://bsky.app/profile/did:plc:zxqezqfhjwidbrsvk66ded57" rel="noopener noreferrer" target="_blank">Felix Salmon</a>, <a href="https://www.elizabethspiers.com/" rel="noopener noreferrer" target="_blank">Elizabeth Spiers</a>, and <a href="https://www.axios.com/authors/epeck" rel="noopener noreferrer" target="_blank">Emily Peck</a>, discuss how the Donald Trump appointee will deal with pressure from the president to lower rates despite rising inflation. Then, they cover Trump’s visit to China and what it could mean for the US-China power balance, particularly within the AI arms race. And finally, they get into how the AI boom is making semiconductor chips the “<a href="https://www.axios.com/2026/05/13/chips-ai-stocks-china" rel="noopener noreferrer" target="_blank">It Girl of the global economy</a>.”In the Slate Plus episode: Are we sick of subscriptions?&nbsp;Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on<a href="https://podcasts.apple.com/us/podcast/slate-money/id876523888" rel="noopener noreferrer" target="_blank"> Apple Podcasts</a> and<a href="https://open.spotify.com/show/2AgxNbNcUOckZSww9mk8mX" rel="noopener noreferrer" target="_blank"> Spotify</a>. Or, visit<a href="https://slate.com/podcast-plus?utm_medium=link&utm_campaign=plus_pod&utm_content=Money&utm_source=episode_summary" rel="noopener noreferrer" target="_blank"> slate.com/moneyplus</a> to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth.<hr> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.

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