The Wall Street veteran takes over from Jerome Powell at a challenging moment, with rising inflation complicating interest rate decisions. By Jonathan Small | edited by Brittany Robins | May 13, 2026 Kevin Warsh vowed to embark on “regime change” at the Federal Reserve — and now he’ll get his chance. The Senate confirmed Warsh as the next Fed chair today in a 54-45 vote, with the Wall Street veteran set to replace Jerome Powell on May 15, according to The New York Times . Warsh inherits a challenging economic landscape. Rising energy prices from the Iran conflict have pushed inflation sharply higher, weakening the case for interest rate cuts that seemed likely earlier this year. Investors had largely ruled out rate cuts for 2026, and expectations have now shifted toward the potential for rate increases next year instead.…