The next Fed chair wants lower rates. But the data might make that impossible.

As Kevin Warsh steps into the role of leading the U.S. Federal Reserve, turbulent waters marked by soaring inflation await him, says StanChart's Winters. While there's a palpable push for interest rate reductions from political circles,

Kevin Warsh is poised to take the helm of the US central bank later this week facing pressure from the White House to deliver interest-rate cuts and growing resolve from his colleagues to stand pat. Now the bond market is piling on.

The bond market wasted no time in telling Kevin Warsh not to cut rates. The new Fed chair took the job intending to cut borrowing costs, but the bond vigilantes are putting up immediate resistance that could ultimately force him to turn hawkish.

Markets usually have a big reaction when the Fed changes hands. Now is the time to start getting ready for Donald Trump's hawkish new chair.

Kevin Warsh has sold most of the financial holdings he promised to divest from before becoming chair of the Federal Reserve, a key step in addressing a point of controversy surrounding his confirmation,