The new Fed chairman is in the spotlight as he faces global finance ministers and the challenge of inflation.

Federal Reserve Chairman Kevin Warsh is scheduled to make his first major appearance on the international economic stage on Wednesday, participating in the European Central Bank's (ECB) annual forum in Sintra, Portugal. He will share the stage with ECB President Christine Lagarde, Bank of England Governor Andrew Bailey, and Bank of Canada Governor Tiff Macklem, at a time when combating inflation remains a top priority for major central banks.

Appointed head of the Fed on June 17, Kevin Warsh chose, in his first monetary policy decision, to keep interest rates unchanged. He reaffirmed his commitment to bringing inflation back to the 2% target set by the US central bank, while advocating a more focused approach to the Fed's role than that of several of his counterparts.

Discussions in Sintra could also touch on the sensitive issue of the Federal Reserve's independence. Earlier this year, Christine Lagarde, Andrew Bailey, and Tiff Macklem publicly supported former Fed Chairman Jerome Powell against pressure from President Donald Trump 's administration . This issue resurfaced recently after a U.S. Supreme Court ruling allowing Governor Lisa Cook to remain in her position despite Donald Trump's attempt to remove her.

Until now, Kevin Warsh has been cautious on these institutional issues. He has avoided commenting directly on the cases involving Lisa Cook or Jerome Powell, favoring a discourse focused on controlling inflation and price stability. His performance in Sintra will therefore be closely scrutinized by markets and policymakers, who will seek to better understand his vision of the Fed's independence.

Beyond monetary policy, the discussions will also highlight the differences in approach between major central banks. While several institutions, notably the ECB, are now incorporating issues such as climate change into their thinking, Kevin Warsh defends a more traditional view of the role of a central bank, primarily focused on price stability and the smooth functioning of the economy.