“We have a very good guy over there now so I’m guided by what he wants to do,” Trump said in France, where he attended a meeting of leaders from the world’s seven largest economies.

All told, another eight officials signaled they would support keeping the rate unchanged, and one penciled in a cut. Warsh did not submit a forecast for how the Fed might change its key rate.

In another shift, the Fed’s post-meeting statement contained no hints about its next moves, or what economists refer to as “forward guidance.” Previous Fed chairs, starting with Ben Bernanke, saw such guidance as a benefit to the Fed, because it prodded financial markets to move rates either higher or lower, depending on what the Fed preferred.

Warsh told reporters at a press conference that guidance was not “well suited to the current policy conjuncture.” He has previously criticized forward guidance, as well as the quarterly projections, for potentially locking the Fed into a specific rate path.

Warsh also said he is forming five task forces to examine such areas as how the Fed communicates, the sources of data it uses in making policy decisions, and the frameworks it uses to evaluate inflation, all with the goal of making sure the Fed is “clear-eyed and focused on the future.”

Diane Swonk, chief economist at accounting firm KPMG, said the use of the task forces indicates Warsh is not looking to impose changes on the rest of the Fed, but instead is seeking consensus.

“He wants buy in,” she said. “He’s not trying to change it by command.”

If the Iran war is resolved, gas prices will likely continue to decline and inflation may cool in the coming months. But prices of many goods and services — such as clothes, dental care, and child care — were rising before the Iran war, and inflation has been above the Fed’s 2% target for five years, suggesting that there may still be inflationary pressures in the economy.

Warsh also faces a sharply different economic environment than when he appeared to campaign for the job of Fed chair last year. Back then, he was outspoken in favor of lower interest rates, as Trump has demanded. He pointed to the development of AI as a technology that could vastly expand the economy’s ability to produce goods and services cheaply, which would over time bring down inflation.

Even then, many economists were skeptical of his claim. At least in the short run, analysts note that soaring investment in semiconductors and computing equipment is contributing to higher inflation.

Indeed, since the Iran war began Feb. 28, inflation has accelerated to a three-year high of 4.2%, lifted mostly by costlier gas stemming from the Iran war. The Fed typically fights higher inflation by raising its key interest rate to cool spending and growth.

Trump has announced a peace agreement that could bring the three-month conflict to an end, but it’s not clear if peace will hold. And even if oil flows freely out of the Middle East again, it could take months for prices of gas, groceries, and items such as airline fares, to cool.

At the same time, hiring has picked up in recent months, removing a key rationale for cutting rates. In January, the Fed forecast that it would reduce rates twice this year, as part of its quarterly economic projections. A big reason for those potential cuts is that employers were shedding jobs and policymakers worried that the unemployment rate would rise. The central bank typically cuts its key rate to spur economic growth and hiring.

But earlier this month a government report showed that hiring jumped in May, when employers added 172,000 jobs, the third straight month of solid job gains.

Christopher Rugaber, The Associated Press