Kevin Warsh has been confirmed as the 17th leader of the Federal Reserve , becoming America's economist-in-chief at a moment of resurgent inflation, public discontent with the economy and unprecedented attacks on the Fed's independence.

Driving the news: Warsh was confirmed to a four-year term as Fed chair Wednesday by a 54-to-45 Senate vote. He received unanimous support from Republicans but only one "aye" vote from a Democrat, John Fetterman of Pennsylvania.

Warsh takes the helm of the central bank after Jerome Powell's term ends Friday.

The big picture: Warsh has promised sweeping change at an institution that he argues has grown too unwieldy and inclined to intervene in the economy.

He inherits buoyant financial markets and an AI-driven growth surge — as well as the legacy of five straight years of elevated inflation that has spiked again due to the Iran war.

High prices and affordability concerns have driven consumer sentiment indicators to recessionary levels, despite a low unemployment rate and…