The U.S. Senate formally confirmed Kevin Warsh as the new Chair of the Federal Reserve yesterday, marking the official start of the "Warsh era" at the nation's central bank. Concurrently, current Federal Reserve Governor Stephen Mealean announced his resignation. According to informed sources, Mealean's resignation is intended to make way for Warsh to rebuild his leadership team and to express support for Warsh's policy agenda. Warsh previously served as a Federal Reserve Governor from 2006 to 2011, gaining extensive crisis management experience during the financial crisis. His most urgent tasks upon taking office will be to address persistently high inflation and the deeply divided Federal Open Market Committee. There is widespread expectation that Warsh will adopt a more hawkish stance than his predecessor, Jerome Powell, to bring inflation back to the 2% target level as quickly as possible.