Kevin Warsh promised to remake the central bank. His first challenge: inflation that will make the president's demand for interest rate cuts impossible to meet.

President Donald Trump is about to get a new Federal Reserve chair. His allies aren’t so sure he’ll get his interest rate cuts any time soon, though.

The Senate was poised to confirm Kevin Warsh as the central bank’s next chair Wednesday, handing Trump a long-sought victory. Warsh has promised “regime change” at the Fed.