New Federal Reserve (Fed) chief Kevin Warsh is set to chair his first meeting of the U.S. central bank's rate-setting committee this week, caught with double pressure, while analysts closely anticipate his speech and hints on the future policy path.
Inflation is at a three-year high, but Warsh still faces unrelenting pressure from the White House to lower interest rates.
The bank's 12-member Federal Open Market Committee (FOMC) will begin a two-day meeting on Tuesday and is widely expected to hold rates steady as the effects of U.S. President Donald Trump's war on Iran course through the world's largest economy.
Warsh, who was picked by Trump, was sworn in last month and has an ambitious and wide-ranging reform agenda.
He has previously expressed support for lowering rates – in line with Trump's demands – but will likely face resistance from a divided committee.
