The Young and the Restless recap for Wednesday, May 14 sees Phyllis make a bold move, Victor play hardball, and Chelsea start having second thoughts.

What Happened on The Young and the Restless?
Phyllis (Michelle Stafford) lured Victor (Eric Braeden) to the jazz lounge, dangling a juicy tidbit: intel on what Billy (Jason Thompson) was plotting with Dumas. But Victor wasn’t biting.

Phyllis tried flattery, tried dangling Summer’s name, even tried bargaining for a business opportunity for herself and Daniel (Michael Graziadei) in exchange for what she claimed was a direct line to Dumas. Victor reminded her of who she was talking to. “I’m Victor Newman—I know exactly what the hell I’m talking about,” he said before walking away without making a deal.

Still, Phyllis wasn’t finished. She picked up her phone and called Dumas’s office directly, asking to speak to him. The assistant hung up with a vague “I’ll let him know,” and Phyllis reminded herself she’s down, but not out.

MORE: Find out what happens next on Y&R.

Smear Campaign
At the GCAC, Billy crossed paths with Adam (Mark Grossman) and Chelsea (Melissa Claire Egan). He made it clear he knew Victor’s plan to smear him in the press and had no intention of rolling over. Billy tossed barbs, and Adam coolly warned him that the Newmans were always one step ahead. Chelsea tried to be the buffer.After Adam left, Chelsea begged Billy to stop retaliating, pointing out that the feud was bigger than him—it was Victor and Dumas using him like a pawn. Billy agreed that Dumas was the real issue, but wasn’t backing down. When Adam returned, Billy backed off, but only temporarily.

Later, Victor himself showed up at the GCAC to taunt Billy, reminding him that the clock was ticking. Billy turned him down flat, declaring he’d rather fail on his own terms than be bullied. Victor called Adam and gave the green light: release the smear campaign.

Back at Crimson Lights, Chelsea overheard Adam talking to his father. Though he claimed the campaign was still on hold, he couldn’t give her a straight answer. She asked him plainly: could she trust him? He said yes.

Family Ties
Meanwhile, Nate (Sean Dominic) and Audra (Zuleyka Silver) waited at the penthouse for Amy’s (Valarie Pettiford) return. Audra was excited to have her shopping buddy back, but she still hadn’t secured Victor’s funding for Vibrante. Nate picked up on her evasiveness, and she deflected. She learned the ruthless game from Tucker, after all.

Amy and Damian (Jermaine Rivers) arrived, and it was clear Amy felt at home again. She said she was finally feeling better, and the family teased her about being a “negative Nancy” when they first met. When she got a little faint, Audra helped her upstairs, and Damian stayed behind to talk with Nate.

Damian brought up Lily’s (Christel Khalil) offer and asked if Nate had an issue with him joining the company. Nate admitted he was worried about the double-agent scheme. It was a lot for his brother to take on, but Damian insisted this was where he wanted to be. The brothers shook hands, and Nate officially welcomed him to the company.

When Audra and Amy returned, she was thrilled to hear Damian was joining the family business. It was all starting to feel like a win-win, at least on the surface.

Awkward
Back at the GCAC, Victor wasn’t done. He approached Adam and Chelsea, congratulated her on joining the company, and ordered drinks for a toast. When he asked if they were engaged yet, it was awkward. As soon as he walked away, Chelsea looked at Adam and asked the question that had been building all day: “Tell me I’m not making a deal with the devil.”