U.S. Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, and U.S. Senator Jeff Merkley sent a letter to Treasury Secretary Scott Bessent seeking an explanation of how the Treasury’s announced plan to place President Trump’s signature on U.S. paper currency would benefit the public. The Senators argued that the announcement comes amid an affordability squeeze and pointed to recent market and economic indicators, including mortgage rates reaching what they described as the highest level since the first week of September 2025, an Organisation for Economic Co-operation and Development projection that U.S. inflation would exceed four percent in 2026, and a 1.7 percent drop in the S&P 500. They also cited an estimate that U.S. households paid an additional USD 1,700 in 2025 due to tariffs, alongside higher costs for groceries, housing, and electricity. The letter requests information on how the decision will benefit the American public by April 15, 2026.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-04-02
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Warren and Senator Merkley question Treasury plan to add President Trump’s signature to paper money
U.S. Senators Elizabeth Warren and Jeff Merkley sent a letter to the U.S. Treasury Secretary seeking an explanation of how the Treasury’s plan to place President Trump’s signature on U.S. paper currency would benefit the public. They questioned the decision in light of recent economic pressures, including higher mortgage rates, an OECD projection that U.S. inflation will exceed 4 percent in 2026, a 1.7 percent decline in the S&P 500, and increased household costs from tariffs and essential expenses.