Warren Grills Bessent on Trump’s Failing Economic Agenda, Questioning Administration’s Plans to Lower Grocery Costs As Monthly Grocery Inflation Hits Nearly Four-Year High

Warren Grills Bessent on Trump's Failing Economic Agenda, Questioning Administration's Plans to Lower Grocery Costs As Monthly Grocery Inflation Hits Nearly Four-Year High

"If you are unable to recognize that President Trump's economic agenda is raising costs on American families, it means you have no plan to fix it."

Text of Letter (PDF)

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to Treasury Secretary Scott Bessent, requesting that he correct the record following his claim during histestimony before the Senate Banking Committee that "numerous grocery prices have gone down" and that "prices are indeed falling." Bessent's claims are contradicted by the federal government's collected data. Grocery inflation jumped 0.7 percent in April, the highest monthly increase in nearly four years.

"(Y)ou claimed that 'numerous grocery prices have gone down' and that 'prices are indeed falling.' These misleading assertions raise questions about whether you are even aware of the challenges Americans face as they struggle to afford groceries," wrote the Senator. "I am therefore writing to provide you with accurate information about the cost of groceries more than 15 months into President Trump's second term."

"American families paid hundreds of dollars more for groceries in 2025 as grocery prices rose 2.3 percent - nearly double the prior year's pace. And costs continue to climb this year," wrote the Senator. "President Trump's agenda is driving much of these increases. The President's chaotic and unlawful tariff policies have raised the cost of food, a fact the Administration implicitly conceded in late 2025 when President Trump signed an executive order exempting coffee, tea, tropical fruits, beef, and other agricultural products from reciprocal tariffs."

The Senator concluded, "It is essential that Trump Administration officials rely on accurate information as they advise the President on his economic agenda, which is hurting families, farmers, and businesses. In addition, as part of my legislative responsibilities with regard to the nation's economic policies, I request answers to the following questions no later than May 26, 2026."

In January, the Ranking Member launched a new probe into President Trump's failure on affordability:

• In January, Warren released a new report highlighting how American families paid $2,120 more in 2025 because of inflation under Trump - driven, in part, by the President's chaotic and illegal tariffs.
• In February, Senator Warren directly requested the President's plans to lower costs for families after he failed to deliver any during his State of the Union Address.
• In February, Senator Warren requested information from Amazon about the scale and timing of price increases on its platform, the extent to which they have been caused by President Trump's actions, and what Amazon is doing to mitigate their impact.
• In March, Senator Warren requested information from coffee companies on how President Trump's chaotic tariffs have driven up coffee prices and hit families' pocketbooks.
• In April, Warren released a new report detailing how "Trump Fees" are costing Americans more than $86 billion each year.
• Following Bessent's comments that Americans "feel good" about the economy, Warren requested details from the Treasury Secretary on his plans to lower costs since the April consumer sentiment reached a record low.
• Along with Senator Heinrich, Ranking Member of the Senate Energy and Natural Resources Committee, Ranking Member Warren sent a letter to White House Chief of Staff Susie Wiles, pressing for details on the Administration's plan to address soaring energy prices caused by President Trump's war with Iran.

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