#FedChairTransitionNears

Kevin Warsh to face resurgent inflation and an impatient Donald Trump as chair of the Fed

Kevin Warsh will be thrust into an “impossible” position when he takes the helm of the Federal Reserve as he battles against the inflation triggered by the Iran war and President Donald Trump’s calls for lower rates, economists warn.

Warsh, Trump’s nominee to replace Jay Powell as Fed chair, is expected to be confirmed by the Senate as early as Wednesday, paving the way for his appointment as the world’s most influential central banker

At the same time, Trump and the president’s top economic officials are relentlessly demanding interest rate cuts, while the Supreme Court is weighing whether to allow the president to sack Fed governor Lisa Cook.

He’s coming into office in complicated circumstances, to put it delicately,” said David Wilcox, a former Fed economist who is now at the Peterson Institute think-tank. “He really is caught in an impossible situation between a president who is insistent on rate cuts and an inflation scenario that is problematic.”

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