Kevin Warsh, a former Fed governor and long-time inflation hawk, is set to become chair of the US Federal Reserve (the United States' central bank) as early as mid-May, pending formal Senate confirmation expected next week. Once known for resigning from the Fed's board in 2011 in protest at loose monetary policy and warning that money-printing would fuel inflation, Warsh has since reversed course — publicly backing interest rate cuts and calling for a "regime change" at the institution, a shift critics including The Economist describe as opportunistic positioning to win Donald Trump's favour. His appointment comes as US inflation has jumped to 3.8% amid an ongoing conflict with Iran and sweeping tariffs, making the rate cuts Trump expects significantly harder to deliver.