Kevin Warsh takes over as Federal Reserve chair with a hawkish inflation-first agenda and plans to shrink the balance sheet. Here's what investors should expect.

Stephen Miran resigns from the Federal Reserve Board, clearing a seat for Kevin Warsh, confirmed as the next Fed chair with hawkish and deregulatory instincts.

With inflation spiking and Treasury yields surging, Warsh is likely to confront a Federal Open Market Committee in no mood to ease.

Explore the challenges facing new Fed Chair Kevin Warsh as he navigates inflation, asset classes, and the Fed's independence.