Vosh faced numerous challenges even before taking office, with colleagues questioning whether soaring oil prices would make it difficult for him to fulfill Trump's interest rate cut dreams.

It will be months before Kevin Wash takes the helm at the Federal Reserve, but with the U.S. economy’s trajectory and the stance of his future colleagues conflicting with White House expectations, Wash’s efforts to cut interest rates as President Trump wishes face many obstacles. Most Fed officials believe that, given that inflation remains somewhat high and the labor market appears to be stabilizing, there is no urgent reason to rush into further rate cuts. The four-year high in oil prices driven by the Middle East conflict will only further reinforce their cautious stance. Some policymakers have expressed skepticism about Wash’s rationale for rate cuts (centered on a technological revolution bringing about low inflation and economic prosperity) and his commitment to shrinking the Fed’s balance sheet. Currently, the Senate has not scheduled hearings for Wash’s nomination.

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