The new Chairman of the Federal Reserve Kevin Warsh arrives in the East Room of the White House for a swearing in ceremony in Washington, DC on May 22, 2026. The US Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on May 13 to lead a central bank whose independence is under attack and with inflation at a three-year high. (Photo by Aaron Schwartz / AFP via Getty Images)

US President Donald Trump departs the East Room of the White House after a swearing in ceremony for the new Chairman of the Federal Reserve Kevin Warshin Washington, DC on May 22, 2026. The US Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on May 13 to lead a central bank whose independence is under attack and with inflation at a three-year high. (Photo by Aaron Schwartz / AFP via Getty Images)

The new Chairman of the Federal Reserve Kevin Warsh departs the East Room of the White House after a swearing in ceremony in Washington, DC on May 22, 2026. The US Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on May 13 to lead a central bank whose independence is under attack and with inflation at a three-year high. (Photo by Aaron Schwartz / AFP via Getty Images)

The new Chairman of the Federal Reserve Kevin Warsh departs the East Room of the White House after a swearing in ceremony in Washington, DC on May 22, 2026. The US Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on May 13 to lead a central bank whose independence is under attack and with inflation at a three-year high. (Photo by Aaron Schwartz / AFP via Getty Images)

US President Donald Trump joined by the new Chairman of the Federal Reserve Kevin Warsh (L), arrives in the East Room of the White House during a swearing in ceremony in Washington, DC on May 22, 2026. The US Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on May 13 to lead a central bank whose independence is under attack and with inflation at a three-year high. (Photo by Aaron Schwartz / AFP via Getty Images)

The new Chairman of the Federal Reserve Kevin Warsh and his wife Jane Lauder, depart the East Room of the White House after a swearing in ceremony in Washington, DC on May 22, 2026. The US Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on May 13 to lead a central bank whose independence is under attack and with inflation at a three-year high. (Photo by Aaron Schwartz / AFP via Getty Images)

Supreme Court Justice Clarence Thomas looks on during a swearing in ceremony for new Chairman of the Federal Reserve Kevin Warsh in the East Room of the White House in Washington, DC on May 22, 2026. The US Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on May 13 to lead a central bank whose independence is under attack and with inflation at a three-year high. (Photo by Aaron Schwartz / AFP via Getty Images)

US President Donald Trump looks on during a swearing in ceremony for new Chairman of the Federal Reserve Kevin Warsh in the East Room of the White House in Washington, DC on May 22, 2026. The US Senate confirmed Kevin Warsh as the new Federal Reserve Chairman on May 13 to lead a central bank whose independence is under attack and with inflation at a three-year high. (Photo by Aaron Schwartz / AFP via Getty Images)