(FILES) US President Donald Trump shakes hands with the new Chairman of the Federal Reserve Kevin Warsh (L) during a swearing in ceremony in the East Room of the White House in Washington, DC on May 22, 2026. US Federal Reserve chief Kevin Warsh will chair his first meeting of the central bank's rate-setting committee next week caught between a rock and a hard place, with inflation at a three-year high and unrelenting pressure from the White House to lower rates. The Fed's 12-member open market committee (FOMC) will begin a two-day meeting on June 16, 2026, and is widely expected to hold rates steady as the effects of US President Donald Trump's war on Iran course through the world's largest economy. (Photo by Aaron Schwartz / AFP via Getty Images)