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.
The 56-year-old financier will take the helm at a fraught moment for a US central bank divided on how to respond to surging fuel prices, which have pushed its favoured inflation measure to 3.5 per cent.
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