Understanding US Fed policy and its impact

Kevin Warsh has been sworn in as the new chair of the US Federal Reserve, succeeding Jerome Powell. The US president selected Warsh with an eye on lowering key interest rates to support economic growth. However, that goal may prove challenging amid rising fuel prices, inflation pressures, and ongoing tensions with Iran. The key question is how US monetary policy will be managed to maintain stability not only for the domestic economy but also for global markets. What changes could now be expected at the Federal Reserve?