Newly confirmed Federal Reserve Chair Kevin Warsh, pledging new tactics to fight inflation, faces an uphill battle to keep rising prices in check. At his April 21 Senate confirmation hearing, Warsh called for “a regime change in the conduct of policy” at the Fed under former chair Jerome Powell, whose tenure saw annual inflation exceed 8 percent during the Biden administration and has failed since 2021 to keep inflation below its target. “Once you let inflation take hold in the economy, it’s more expensive and harder to bring it down, and so the fatal policy error going back four or five years is still a legacy that we’re dealing with,” Warsh stated. “Hard-working Americans are no doubt feeling it.”...