Kevin Warsh has been appointed as the new chair of the Federal Reserve (the Fed) by President Donald Trump and confirmed by the Senate. Serving a four-year term, Warsh succeeds Jerome Powell. The transition marks the beginning of the “Warsh Fed,” following previous eras defined by chairs such as Greenspan, Bernanke, Yellen, and Powell. The article examines whether the new leadership will maintain the Fed’s independence. The Fed was designed to be independent of the president and Congress to focus on long-term economic health. Because the seven board members have staggered 14-year terms and cannot be removed by the president, the author concludes that Fed independence will continue under Warsh. The primary challenge for the Warsh Fed involves balancing the Fed’s dual goals of low inflation and low unemployment, which often require opposing policies. To fight inflation, the Fed typically raises interest rates and slows the money supply; to reduce unemployment, it typically lowers rates and increases the money supply. Based on Warsh’s public comments, the author suggests he is primarily concerned with inflation and is unlikely to advocate for lowering interest rates or increasing money growth. Also, Warsh has expressed concern regarding the size of the Fed’s investment portfolio. The author notes that Warsh’s focus could shift if external factors, such as the end of the Iran war or the removal of tariffs, cause oil and gas prices to fall. Also, while Warsh believes productivity gains from artificial intelligence (AI) will drive future economic growth, critics argue it is currently unclear if AI will create more jobs than it destroys. Ultimately, the author predicts the Warsh Fed will maintain its independence and continue the previous administration’s focus on reducing inflation.