Notes on the News

Catch up on the latest headlines, understand the news in context, and discover interesting articles you might have overlooked.

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How Much Energy Does Your AI Prompt Use? I Went to a Data Center to Find Out.

2 days ago | wsj.com | Joanna Stern

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New Yorkers Vote to Make Their Housing Shortage Worse

2 days ago | wsj.com | Greg Ip

Back in 2022, Austin, Texas, had a mayoral election that bore a superficial resemblance to New York City’s this week. The final runoff featured two Democrats, one an establishment candidate and former mayor, the other a lesser-known progressive. The main issue was a housing shortage that had sent home prices and rents soaring. There, the similarities end. Despite different backgrounds, the two candidates had the same approach to housing: Make it easier to build.
Iran Knows How to Rebuild Its Nuclear Infrastructure, Says U.N. Nuclear Agency Chief

2 days ago | wsj.com | Corinne Abrams |Laurence Norman

The chief of the U.N.’s nuclear agency said Iran had the know-how to rebuild its nuclear infrastructure hit by U.S. and Israeli strikes. “When you look at the reconstruction of the infrastructure, it’s not impossible,” said Rafael Grossi, head of the International Atomic Energy Agency. “This is work that Iran knows how to do.
Trump Eyeing Candidates to Replace Powell as Fed Chair When His Term Ends

2 days ago | wsj.com | Brian Schwartz

President Trump said on Wednesday he is reviewing candidates to replace Federal Reserve Chair Jerome Powell once his term ends, as the two men clash over monetary policy. “I know within three or four people who all I’m going to pick,” Trump said during a press conference at the NATO summit in The Hague. “He goes out pretty soon, fortunately, because I think he’s terrible.” Powell’s term as Fed chair doesn’t end until 2026. Trump didn’t say who he’s considering for the job.
Exclusive: Trump Considers Naming Powell’s Successor Early

2 days ago | wsj.com | Brian Schwartz |Nick Timiraos

President Trump is considering selecting and announcing a replacement for Federal Reserve Chair Jerome Powell by September or October, according to people familiar with the matter. One of these people said the president’s ire toward Powell could prompt an announcement this summer. Because the new chair wouldn’t take office until May, announcing the pick this summer or fall would be far earlier than the traditional three-to four-month transition period.
Georgia Student Housing Operator Files for Bankruptcy

2 days ago | wsj.com | Akiko Matsuda

A student housing operator in Georgia filed for bankruptcy after defaulting on roughly $520 million in municipal bonds as it struggled with rising costs and declining revenue. Corvias Campus Living-USG, a Georgia unit of military and student housing operator Corvias, said bankruptcy was necessary to keep bondholders from sweeping funds from its bank accounts, according to court papers filed Wednesday with the U.S. Bankruptcy Court in Wilmington, Del. Copyright ©2025 Dow Jones & Company, Inc.
Even Warren Buffett Hasn’t Fixed the RV Industry’s Serial Breakdowns

2 days ago | wsj.com | Ryan Felton |John Keilman

Jay Nelson was driving away from a picturesque Montana state park in 2020 when he saw smoke in his rearview mirror. It was coming from the Forest River recreational vehicle he was towing. Nelson, a longtime Montana highway patrolman, got his three daughters to safety, then he and his wife grabbed a fire extinguisher. Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Are Weighted Vests Really Worth the Hype?

2 days ago | wsj.com | Sumathi Reddy

It’s not often that we intentionally add extra body weight. But the latest fitness fad encourages it: Meet the weighted vest. You’ve probably seen them in your neighborhood, on power-walking pros out and about at the crack of dawn. That’s my neighbor and me. Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Jeff Bezos and Blue Origin Try to Move In on Trump After Split With Elon Musk - WSJ

2 days ago | wsj.com | Josh Dawsey |Dana Mattioli |Micah Maidenberg

The outreach came just days after the spectacular, early June breakup of Trump and Musk, who served as one of the president’s top advisers and owns his own rocket company, SpaceX. Musk and Bezos have been space rivals for years, but SpaceX has pulled far ahead of Blue Origin, launching rockets at a record pace and becoming the dominant contractor at the National Aeronautics and Space Administration.
Exclusive | Trump Considers Naming Next Fed Chair Early in Bid to Undermine Powell

2 days ago | wsj.com | Brian Schwartz |Nick Timiraos

President Trump’s exasperation over the Federal Reserve’s take-it-slow approach to cutting interest rates is prompting him to consider accelerating when he will announce his pick to succeed Chair Jerome Powell, whose term runs for another 11 months. In recent weeks, the president has toyed with the idea of selecting and announcing Powell’s replacement by September or October, according to people familiar with the matter.