With Senate confirmation, Kevin Warsh becomes the 17th chair of the Federal Reserve, taking over an institution facing political challenges and an economy struggling with rising inflation. Born on April 13, 1970, in Albany, New York, Warsh has a background in finance, having worked at Morgan Stanley in mergers and acquisitions. He later served as Special Assistant to President George W. Bush for Economic Policy before being nominated to the Federal Reserve Board of Governors in 2006. Warsh's Wall Street experience proved valuable during the 2008 financial crisis. He resigned from the Fed in February 2011, disagreeing with Bernanke's quantitative easing policies. After leaving the Fed, Warsh became a fellow at the Hoover Institution and a lecturer at Stanford. He has been a vocal critic of Fed policy. Warsh's name was considered for Fed chair in 2017 and is an unofficial advisor to Trump. He is set to be the wealthiest Fed chair in history. His wife is Jane Lauder, of the cosmetics company Estée Lauder. Warsh faces immediate challenges, including rising inflation. At his confirmation hearing, he stated he would be an 'strictly independent' chairman.