President Donald Trump’s pick for the Federal Reserve has been confirmed.

Kevin Warsh will take over as chair of the Federal Reserve this week. The Senate voted 54-45 to confirm him to a four-year term Wednesday, ending a monthslong Republican standoff over the central bank’s independence.

Sen. John Fetterman was the lone Democrat to vote in favor of Warsh’s confirmation to the chairmanship and a 14-year term on the board of governors.

Jerome Powell’s term as chair ends on Friday, May 15, ahead of the Fed’s next interest rate-setting meeting in mid-June. Powell said he plans to remain on the Board of Governors until the Justice Department investigation into his handling of a multibillion-dollar Fed renovation is “well and truly over.” All eyes will be on the new chair after Trump publicly pressured Powell to slash interest rates for months.

Warsh’s obstacles to lowering rates are numerous.

Warsh will inherit a rate-setting committee in apparent disagreement over how to proceed on interest rates. In April, three of the 12 members voted against language that indicated rate cuts could be in the near future, and another member, Trump’s former economic adviser Stephen Miran, voted to cut rates by a quarter percentage point. Warsh will take Miran’s seat as a Fed governor.

April’s decision marked the third time this year that the Fed has voted to maintain rates at 3.5% to 3.75%, citing low job gains, elevated inflation and high economic uncertainty due in part to the Iran war.

Those challenges are unlikely to change. Economists say the inflationary effects of high oil prices on the cost of gas, groceries and other everyday expenses will linger for months, despite the U.S.’s fragile ceasefire with Iran.

Trump has said he would be disappointed if Warsh does not lower interest rates. The president has previously called for the rate to be cut as low as 1%.

Warsh said he would not be Trump’s “human sock puppet” during his confirmation hearing before the Senate Banking Committee last month. The then-nominee also argued that previous presidents have made clear their wishes for interest rates without jeopardizing the Fed’s independence.

But Warsh’s specific view of Fed independence has drawn criticism from economists and politicians who say he does not fully embrace the Fed mandate.

Warsh said at the hearing that monetary policy should be an independent function of the Fed, but he would work with Congress and the administration on nonmonetary matters. He has also been criticized for placing undue emphasis on the Fed’s work of managing inflation, to the neglect of the bank’s equal responsibility to limit unemployment.

Republicans praise Warsh as an experienced and necessary leader for the central bank. Warsh is a former Wall Street executive who served as a Fed governor in the years leading up to and following the 2008 financial crisis.

Sen. Thom Tillis initially blocked Warsh’s confirmation process until the Justice Department concluded an investigation into Powell’s handling of a multibillion-dollar renovation of the Federal Reserve’s headquarters, which Tillis and Powell said was political pressure to lower interest rates.

Tillis cleared the way for Warsh to advance out of the Banking Committee last month after U.S. Attorney for the District of Columbia Jeanine Pirro said she instructed her staff to hand over the probe to the Fed’s inspector general.