Fed Chair Nominee Kevin Warsh Faces Inflation Concerns, Analyst Says

On May 15, Jin10 reported that Carol Kong, a foreign exchange strategist at the Commonwealth Bank of Australia, stated that the inflation data released this week is unlikely to be welcomed by FOMC officials, including incoming Fed Chair Kevin Warsh. The U.S. Senate approved Warsh's appointment as Fed Chair on Wednesday. The 56-year-old lawyer and financier will lead the Federal Reserve. Kong also mentioned that the FOMC is expected to begin a rate hike cycle starting this December, with three hikes anticipated during this period.