The Warsh era begins with soaring inflation, a Middle East energy shock bleeding into other parts of the economy and colleagues skeptical that rate cuts should come anytime soon. Add on top: Kevin Warsh faces more political pressure to deliver lower rates than any other Federal Reserve chair in recent memory. Why it matters: The 17th Fed chair, sworn in Friday at the White House, inherits a set of economic conditions that make it difficult to justify cutting rates. Despite President Trump's unprecedented pressure on Warsh's predecessor, Jerome Powell, to cut rates, the president struck a different tone on Friday. "Honestly, I really mean this: I want Kevin to be totally independent and just do a great job. Don't look at me, don't look at anybody. Just do your own thing and do a great job," Trump said at Warsh's swearing-in ceremony. What they're saying: "Our mandate at the Fed is to promote price stability and maximum employment," Warsh said.…