In today’s CEO Daily: ​​Fortune energy editor Jordan Blum reports on how Exxon got “too cute” in the president’s eyes.

The big story: Fallout from the criminal probe into the Fed.

The markets: Mixed globally, with the South Korea KOSPI continuing its record surge.

Plus: All the news and watercooler chat from Fortune.

Good morning. As President Donald Trump has initiated tariff wars and threatened individual companies, his second term has been marked by pilgrimages of CEOs from Big Tech and beyond to bestow gifts upon POTUS and perform public acts of praise.