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Senator Thom Tillis, a Republican from North Carolina, says that he would be in favor of a joint committee investigation into the oversight of renovations at the Federal Reserve. Tyler Kendall reports on Bloomberg Television.

Kevin Warsh repeatedly pledged to act independently if he's confirmed as the next Federal Reserve chair, rejecting Democratic concerns he would be a "sock puppet" for President Donald Trump, who continues to demand lower interest rates.

Republican Sen. Thom Tillis called on the Department of Justice to end its probe into Federal Reserve Chair Jerome Powell for the Fed building cost overruns so he can support Kevin Warsh's nomination. Tillis praised Warsh during the Senate hearing for Trump's pick for Fed chair, saying, "I look forward to supporting your nomination, and I look forward to this investigation being taken down." Tillis expanded on the Fed building's renovation costs, saying, "There were a variety of reasons why this building went over budget. And as a matter of fact, if we put everybody in prison in federal government that had had a budget go over, we'd have to reserve an area roughly the size of Texas for a penal colony because of way government projects work."

John Ternus has risen through the ranks at Apple is now going to be the next CEO starting in September. He started at Cupertino in 2001. Bloomberg Senior Tech Editor Dana Wollman has more on what we know about Ternus.

Kevin Warsh, President Donald Trump's nominee for Federal Reserve chair, says he'd be an independent actor if confirmed, and he says Trump never asked him to commit to any particular rate decision. Warsh testified before the Senate Banking Committee.

Senator Thom Tillis, a Republican from North Carolina, says he supports Kevin Warsh as the next chair of the Federal Reserve, but says he can't vote for President Trump's nominee until a "bogus investigation" of renovations at the Fed is over.

"Absolutely not," Federal Reserve Chair Nominee Kevin Warsh says while responding to a question from Senator John Kennedy of Louisiana about whether he would be a "sock puppet" for President Donald Trump during testimony before the Senate Banking Committee. Warsh also says President Trump has not asked him to commit to any rate decision.

Airlines are walking a tightrope: strong demand and pricing power on one side, rising fuel and labor costs on the other. TD Cowen analyst Tom Fitzgerald joined Bloomberg Open Interest to break down why baggage fees are sticking, why government bailouts are unlikely, and how long airlines can keep passing costs to consumers before demand starts cracking.

US Senator Elizabeth Warren, a Massachusetts Democrat, accuses Federal Reserve Chair Nominee Kevin Warsh of being President Donald Trump's "sock puppet" and questions him about his undisclosed assets during testimony before the Senate Banking Committee. Warsh vows to sell his assets before taking the oath of office.

Kevin Warsh, President Donald Trump's nominee to lead the Federal Reserve, says monetary policy independence is essential. During his confirmation hearing before the Senate Banking Committee, Warsh said the Fed should "stay in its lane."