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President Trump announces that the U.S. will extend a ceasefire with Iran that was going to expire tomorrow.

Plus, senators volley tough questions at Kevin Warsh, President Trump's pick for the next Fed chair during his confirmation hearing.

And why the energy shock is going to hit electricity bills in Hawaii and Alaska.

Essentially, they are very exposed to that international price of oil. So the utilities

right now that are purchasing oil or paying higher prices for it, and then that gets passed along.

It's Tuesday, April 21st. I'm Alex O'Sulloch for the Wall Street Journal. This is the PM edition

of What's News, the top headlines and business stories that

move the world today.

Kevin Warsh, President Trump's nominee for Federal Reserve Chair, testified in front of the

Senate Banking Committee today. During the two-and-a-half-hour session,

Senators grilled Warsh about his financial assets, as well as how he plans to preserve the

independence of the Fed. For more on the hearing and what happens next, I'm joined by WSJ

economics reporter, Matt Grossman. Matt, senators asked Warsh a lot of different questions, but one

topic that kept coming up was his relationship with President Trump, like in this exchange between Warsh and Massachusetts Democratic Senator Elizabeth Warren.

In our meeting, you said you would be independent because you're, quote, a tough guy. Those were your words, tough guy. And you will be able to stand up to President Trump.

So let's try it again.

Name one aspect of President Trump's economic agenda with which you disagree.

...