Between a surge in interest rates, increasingly restive colleagues and the demands of President Trump, the new Fed chairman, Kevin Warsh, is in a bind.

© Alex Brandon/Associated Press

Elevated inflation and the specter of rate increases will greet Kevin M. Warsh in his debut as chairman of the Federal Reserve.

© Haiyun Jiang/The New York Times

Gas prices and other goods could remain elevated for months, adding to the political challenge facing the White House in the midterm elections.

© Eric Lee for The New York Times