Petition of the day

Issue:(1) Whether, when the Federal Arbitration Act (FAA) governs an arbitration, the FAAs judicial review standards apply in state court and preempt application of different state-law judicial-review standards; and (2) whether, when arbitrators have jurisdiction to resolve a contract dispute, the FAA prohibits a court from holding that they exceeded their powers if the court concludes on the merits that their contract interpretation is unambiguously and irrationally incorrect.