In his first press conference, Warsh reaffirmed the Fed's commitment to price stability. But what that means in practice is anyone's guess.

Trump signaled he would allow his new Federal Reserve chair “do what he wants to do.”

Trump signaled he would allow his new Federal Reserve chair “do what he wants to do.”

Investors had expected a pause as the U.S. continues to grapple with too-high inflation and higher energy costs stemming from the Iran war.