Former Wall Street banker takes over amid growing concern over cost of living – and disapproval of Trump’s agenda

Kevin Warsh has been sworn in as chair of the US Federal Reserve, tasked with steering the world’s largest economy as the Trump administration faces mounting pressure over Americans’ financial wellbeing.

Warsh, handpicked by Donald Trump, takes charge of the powerful central bank as it comes under extraordinary pressure from the US president to cut interest rates, even as prices climb.

While Trump faces growing criticism over his handling of the economy, Warsh will now chart a course through an uncertain outlook, darkened by the US-Israel war on Iran.