The U.S. Senate Committee on Banking, Housing and Urban Affairs published a minority press release posting Ranking Member Elizabeth Warren’s opening statement and questioning of Treasury Secretary Scott Bessent at a committee hearing, focused on the administration’s messaging on consumer affordability and Bessent’s role as Chair of the Financial Stability Oversight Council (FSOC). Warren argued that prices for groceries, electricity, health care and housing construction have increased during President Trump’s term and pressed Bessent on whether grocery prices fell in 2025, citing Bureau of Labor Statistics data showing grocery prices were 2.4% higher at the end of 2025 than at the end of 2024 and referencing a Department of Agriculture projection that prices would rise further in 2026. She also criticised what she described as weakened bank supervision and attempts to shut down the Consumer Financial Protection Bureau, noting the bureau has returned more than USD 21 billion to consumers, and urged FSOC to address emerging risks including private credit, citing Moody’s estimate of USD 300 billion of bank exposure.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2026-02-05
U.S. Senate Committee on Banking, Housing and Urban Affairs releases Warren hearing exchange challenging Treasury Secretary Bessent on affordability and FSOC oversight
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a minority press release featuring Ranking Member Elizabeth Warren's questioning of Treasury Secretary Scott Bessent. Warren focused on consumer affordability, Bessent's role as Chair of the Financial Stability Oversight Council, rising prices for essentials, weakened bank supervision, and urged FSOC to address risks like private credit, noting significant bank exposure.