Nicole Goodkind

Kevin Warsh is sworn in as the new Fed chair at the White House, with President Trump as host.

Since the central bank’s April meeting, markets have priced in a growing chance of a rate increase.

Jerome Powell will hold the temporary designation until Kevin Warsh officially becomes the Fed’s 17th chair.

It might be hard for new Fed Chair Kevin Warsh to take the central bank where he wants it to go.

The vote came just days before Jerome Powell’s term as chair expires Friday.

Warsh, on track to become the next chair of the Federal Reserve, prefers trimmed mean inflation, which eliminates price extremes. It could also lead the Fed to cut rates sooner.

The comments challenge the case for cheaper borrowing costs made by Kevin Warsh and the Trump administration.