"So, for a solid year while he ran for president, Donald Trump promised pretty much every day that he was going to lower costs on day one if he was elected. Those were his words, not mine. So, Secretary Bessent, you are one of the president's top economic advisors. Let's just start with a little truth-telling about the Trump economy one year in. Affordability is the top concern for Americans across the country."
"Senator, it may be a bit nuanced for you, but what President Trump is referring to is the media saying that the affordability crisis was generated by this administration when it was you and President Biden who destroyed the buying power of the American people. So there is an affordability crisis, and you were front and center in it."
Sen. Elizabeth Warren questioned Treasury Secretary Scott Bessent at a Senate Banking, Housing, and Urban Affairs Committee hearing about grocery prices and affordability. Warren repeatedly pressed Bessent to acknowledge administration data showing grocery prices increased in 2025, and Bessent declined to do so until she cited the figure. Warren asked whether affordability was a hoax given repeated public claims by the president; Bessent responded that accusations blaming the current administration were misplaced and blamed the Biden-era policies for eroding buying power. The exchange included Bessent citing 21.5% cumulative inflation during the broader argument over responsibility for rising costs.
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