The U.S. Senate Committee on Banking, Housing and Urban Affairs’ Ranking Member, Senator Elizabeth Warren, sent a letter to Treasury Secretary Scott Bessent seeking details and justification for President Donald Trump’s plan to use U.S. resources to support Argentina’s currency and financial markets, which she characterised as a potential bailout of financial markets and hedge fund investors. Warren argued the proposed support raises concerns given Trump’s relationship with Argentine President Javier Milei and the timing ahead of Argentina’s October 26 midterm election. She also questioned the basis for Bessent’s 22 September 2025 statement that Argentina is a “systemically important U.S. ally in Latin America” and why a sell-off in the Argentine peso and related market distress would pose a direct threat to the U.S. economy. The letter asks for information on the rationale for any taxpayer-backed support, the scale and conditionality of assistance, and the potential cost to U.S. taxpayers, while pointing to the Exchange Stabilization Fund’s intended use in the U.S. national interest.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-09-23
U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Warren questions Treasury on using the Exchange Stabilization Fund for an Argentina market bailout
Senator Elizabeth Warren sent a letter to Treasury Secretary Scott Bessent questioning President Donald Trump's plan to use U.S. resources to support Argentina's currency and financial markets, which she views as a potential bailout. Warren raised concerns about Trump's relationship with Argentine President Javier Milei and the timing before Argentina's midterm election, seeking details on the rationale, scale, and conditions of the proposed support.