New Chair of the Federal Reserve Kevin Warsh walks straight into a professional buzzsaw. Though he now occupies one of the most influential and prestigious posts in America—and indeed the world—his daunting assignment may be among the most difficult in government in recent decades. The difficulty of Warsh’s task flows first from the abject failures...

President Donald Trump swore in his pick to chair the Federal Reserve, Kevin Warsh, on Friday, saying he wants him to be independent in the role. “I want Kevin to be totally independent,” Trump said. “I want him to be independent and just do a great job. Don’t look at me, don’t look at anybody,...