Wall Street no longer believes Kevin Warsh can do what President Trump wants

Good morning. On Fortune’s radar today: Markets: Full steam ahead! Wall Street simply doesn’t believe Kevin Warsh can deliver a cut. AI data center companies are stealing water. There is no jet fuel shortage, this CEO says. It took 8 years to create Google Sheets. AI cloned it in days. Chart: AI is a convenient excuse for CEOs doing layoffs. Quick note: Subscribe to the forthcoming Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it.Sign up here. This story was originally featured on Fortune.com