The Senate confirmed President Donald Trump’s nominee Kevin Warsh on Wednesday to be chairman of the Federal Reserve, where he is immediately set to face a dilemma between trying to curb inflation and fulfilling Trump’s wishes by lowering interest rates.

The Senate confirmed Warsh, 56, on Wednesday in a 54-45 vote, with only Sen. John Fetterman (D-PA) joining Republicans in voting for him to lead the central bank. Warsh will enter the Fed at a time when inflation is rising, thanks in part to energy market disruptions from the war in Iran, and investors see interest rate hikes as more likely than cuts.