The U.S. Senate Committee on Banking, Housing and Urban Affairs published a letter from Ranking Member Senator Elizabeth Warren to Treasury Secretary Scott Bessent seeking written details of the Trump Administration's plans to reduce consumer costs. The request was framed against April consumer sentiment reaching a record low and followed Bessent's comments that Americans feel good about the economy. Warren's letter argues that higher energy prices are feeding through to airline fares, shipping-related costs and food prices, while nominal wage growth slowed to 3.5 percent in March, the lowest rate in nearly five years. It also cites Bank of America data indicating that part of the rise in March consumer spending reflected higher gasoline spending, particularly among lower-income households, and asks Bessent to provide written responses by May 12, 2026.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-30
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member requests Treasury details on Trump Administration plans to lower consumer costs
The U.S. Senate Committee on Banking, Housing and Urban Affairs published a letter from Ranking Member Senator Elizabeth Warren to Treasury Secretary Scott Bessent requesting written details of the Trump Administration’s plans to reduce consumer costs, citing record-low April consumer sentiment. The letter highlights rising energy-driven costs for air travel, shipping and food, slowing nominal wage growth to 3.5 percent in March, and Bank of America data showing higher gasoline spending among lower-income households.