Caroline Hepker

And I'm Caroline Hepker.

Kevin Walsh served on the US Central Bank's Board of Governors from 2006 to 2011 and has advised President Trump on economic policy.

If nominated and confirmed, he would succeed Jerome Powell, whose term ends in May.

Stocks fell and Treasury yields pushed higher on bets that Walsh will become the next Fed chair.

Mike McKee is Bloomberg's international economics and policy correspondent.

Mike McKee speaking there.

As Walsh has aligned himself with the president in recent months, he's notably been arguing publicly for lower interest rates and going against his longstanding reputation as an inflation hawk.

Apple has delivered record quarterly sales and a better-than-anticipated forecast for the current period.

Sales at the tech giant trounced Wall Street estimates, jumping 16% to $143.8 billion in the final three months of 2025.

Bloomberg's chief correspondent Mark Gurman says it's hard to put into words just how good the results are.

Bloomberg's Mark Gurman setting out the positive results there, driven by the iPhone 17.

But Apple has warned that rising component costs are threatening to squeeze margin.

In news that clouded the record quarter, according to CEO Tim Cook, the company expects more of an impact to gross margins in the current period.

President Trump and Senate Democrats have reached a tentative deal to avert a disruptive US government shutdown.

The deal would fund the Homeland Security Department for two weeks to allow more time for talks.

Democrats are seeking requirements that DHS agents use body cameras and obtain judicial warrants.

But lawmakers are almost certain to fail to enact the measure before a Friday night deadline.

That's news when you want it with Bloomberg News Now.

I'm Caroline Hepker.

Well, despite those gains, doubts are persisting among some investors about whether firms can recoup their massive AI outlay.