As the Kevin Warsh era begins at the central bank, rising bond yields have greatly weakened the case for lower borrowing costs.

Never before has a chair of the US Federal Reserve been so controversial. Who is Kevin Warsh? Can he preserve the Fed's independence, or will he become Donald Trump's puppet?

Incoming Federal Reserve chair Kevin Warsh will be sworn in at the White House on Friday, taking the reins of the US central bank as it faces unprecedented pressure from President…