The Senate on Wednesday confirmed Kevin Warsh as the next chair of the Federal Reserve by a 54-45 vote, giving the former Wall Street banker a shot at overhauling an institution that he has long criticized.

Warsh got the support of only a single Democrat, Sen. John Fetterman of Pennsylvania, presaging a rockier relationship with Congress than his predecessor, outgoing Chair Jerome Powell, enjoyed.

He enters the job at a fraught moment for the central bank, with President Donald Trump aggressively pushing for the Fed to sharply lower interest rates — a move that Powell resisted for more than a year. Warsh might also find that task difficult to pull off anytime soon, given surging energy, food and wholesale prices triggered by the war in Iran and internal divisions on the Fed.

But the incoming chair, who previously served on the Fed board from 2006 to 2011, also has a host of other ambitions for the world’s most important central bank.

Warsh has said he wants to reform some of the Fed’s decades-old tools, including how it tracks what’s happening in the economy and how it communicates with the public and financial markets.

He argues that Fed officials talk too frequently about how they expect the economy to evolve, in ways that are more of a distraction rather than providing useful information, given the inherent uncertainty of such predictions.

“Fed leaders would be well-served to skip opportunities to share their latest musings,” he said last year at an International Monetary Fund event. “The swivel chair problem, rhetorically waxing and waning with the latest data release, is common and counter-productive.”

Warsh has also said the Fed’s practice of buying trillions of dollars in U.S. government debt and bundled mortgages, which it has done after global crises to boost the economy, leads to distortions in the prices of stocks and bonds. He has expressed a desire to shrink those asset holdings, a process that some warn could be disruptive to markets.

His disagreements about those policies with then-Chair Ben Bernanke — with whom he had worked closely during the financial crisis —led him to depart from the Fed’s board in 2011.

Warsh, 56, has spent his years since leaving the Fed as a visiting fellow at Stanford University’s Hoover Institution and as a partner in the private firm of the legendary investor Stanley Druckenmiller.

Prior to his central banking experience, he worked at Morgan Stanley and then as a staffer in President George W. Bush’s White House. Warsh is married to Jane Lauder, the granddaughter of cosmetics magnate Estée Lauder.

He is worth at least $131 million, according to his financial disclosures, and Sen. Elizabeth Warren (D-Mass.) criticized him for not disclosing details on many of his investments. Warsh said at his confirmation hearing that he had agreed to divest “virtually all” of those assets and move into all “plain vanilla” holdings.