The U.S. Senate Committee on Banking, Housing and Urban Affairs’ ranking member, Senator Elizabeth Warren, issued a statement on the July 2025 Personal Consumption Expenditures (PCE) data, arguing that inflation is rising and that households are paying more for essentials such as groceries, utilities, and health care despite President Trump’s pledge to lower costs. Warren attributed higher costs to what she described as “chaotic tariffs,” “tax cuts for the rich,” and “cruel immigration policies,” and said the President is looking for scapegoats rather than reversing those policies. She also warned that an “illegal attempt” to seize control of the Federal Reserve risks further increasing the cost of mortgages, credit cards, and auto loans, and raising prices on everyday goods.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-08-29
U.S. Senate Committee on Banking, Housing and Urban Affairs ranking member Warren warns that attempts to seize control of the Federal Reserve could raise borrowing costs
Senator Elizabeth Warren criticized the July 2025 Personal Consumption Expenditures data, highlighting rising inflation and increased costs for essentials despite President Trump's cost-lowering promises. She attributed these issues to tariffs, tax cuts, and immigration policies, and warned that an "illegal attempt" to control the Federal Reserve could further elevate borrowing costs and prices.