President Trump will not get what he wants from Kevin Warsh, a source tells us, as inflation will force the Fed upwards

Good morning. On Fortune’s radar today: Fed whisperer: Warsh’s old colleague says brace for higher rates. Markets: Ignore the war. Focus on the peace. Damn the IRGC drones! Traffic through the Strait of Hormuz is improving. Yikes: Data shows AI really is killing jobs, Goldman Sachs says. Open AI’s IPO valuation will be higher than the employee tender offer, investor says. Must-read: The conspiracy theory behind Red Lobster’s “Endless Shrimp” fiasco. This story was originally featured on Fortune.com