Analysis: What might trip up Kevin Warsh and his agenda as Fed chair

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Oil prices

are surging. Inflation forecasts are rising. Futures markets increasingly raise the chances of a rate hike from the Federal Reserve.

And then there’s Kevin Warsh and his stated desire — and edict from President Donald Trump — to cut interest rates.

Even before a hearing is scheduled on his nomination as the next Fed chair, Warsh’s ambitious agenda for “regime change” at the Fed faces challenges. The most obvious: $100-a-barrel oil prices and the incipient inflation threat they pose run counter to Warsh’s hopes to sharply reduce interest rates.