Kevin Warsh confirmed as Federal Reserve chair amid inflation and Trump pressure

The US Senate confirmed Kevin Warsh as the new Federal Reserve chairman on Wednesday with a 54-45 vote, replacing Jerome Powell. Warsh, a former monetary hawk, has aligned with President Donald Trump's push for lower interest rates, challenging the Fed's independence. He takes over as the world's largest economy faces inflation at a three-year high, partly fueled by the Iran war. Warsh has promised "regime change" at the bank, criticizing it as too political and open in communication. However, with inflation above the Fed's 2% target, he is unlikely to immediately cut rates, leaving him open to attacks from Trump, who had relentlessly criticized Powell over rate decisions. Warsh was confirmed for a four-year term.