New Chairman of the Federal Reserve Kevin Warsh listens as US President Donald Trump (not pictured) speaks during a swearing in ceremony 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 speaks 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 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)

New Chairman of the Federal Reserve Kevin Warsh listens as US president Donalkd Trump speaks during a swearing in ceremony 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 speaks 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 speaks 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 speaks 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)

New Chairman of the Federal Reserve Kevin Warsh arrives during a swearing in ceremony 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)