Senator Elizabeth Warren Talks Credit Card Caps, Powell
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What is the main topic discussed in this episode?
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Joining us now for more is Democratic Senator Elizabeth Warren of Massachusetts, ranking member on the Senate Banking Committee. Senator, it's always a pleasure to have you on Bloomberg TV and radio. This is obviously one of those days where we need to compare notes with you here. And I will note the fact that you delivered an important address earlier today at the National Press Club. It wasn't about Jay Powell. It was about the future of the Democrat Party.
What did Senator Warren discuss in her speech at the National Press Club?
And I know affordability and the economy were key components there. of your address. You posted on social media after you left the club that President Trump called you after you mentioned him in your speech. What did he have to say?
Well, the speech had been about how Democrats need to get out there and fight to lower costs for American families. I pointed out that Donald Trump had run for office and every day for a year he promised that on day one he would lower costs for American families. He gets elected and said the reason he got elected was because he promised on day one to lower costs. It's been a year now and the cost of groceries is up, the cost of health care is up, the cost of housing is up, the cost of utilities is up. all because of Donald Trump and Republican policies. And I said it's time both to hold Donald Trump accountable and for Democrats to get in there and put out our proposals to lower costs and to show that we're willing to fight for them.
And after that speech was over, Donald Trump gave me a call. And we talked about things we could do to lower costs for American families. That is my job. That is the job of Democrats. That is the job of Congress and the President of the United States.
Well, wait a minute here. So he called you in the spirit of cooperation, Senator? I guess I just assumed he was not a fan of your speech. Is this the same Donald Trump who wants to ban institutional investors from buying single-family homes to stop defense contractors from issuing dividends and stock buybacks, wants to start lowering interest rates? A lot of these are pages out of your book, right? Are you guys going to collaborate on these issues?
Same Donald Trump. In fact, we specifically talked about putting a cap on interest rates on credit cards and about getting this road to housing bill that has passed the Senate unanimously to build up more housing supply and bring down costs. It's hung up by Republicans over in the House. Democrats are all ready. We have voted for it. We're ready to go. But the Republicans in the House are holding it up.
What was President Trump's reaction to Senator Warren's speech?
And Donald Trump just hasn't delivered on either one of those. So my view is no more talk. Let's actually deliver for American families.
That's our job. So, Senator Warren, you sound like you had this conversation with him. There are some similar issues here. Would you be willing to work with the president, work together to handle affordability for the American people? Or do you fight back with everything going on right now in the midterms right around the corner?
Absolutely. My job is to be here to fight to lower costs for American families. And that is what all of my Democratic colleagues are here for. The speech I was giving today was about how we best do that. Do we decide that we're gonna lay out our agenda and try to soften it up in order not to offend any billionaires or corporate CEOs? Or are we actually gonna get in this fight full-throated all the way and show with concrete proposals that we are willing to make a difference in people's lives We are willing to fight to unrig an economic system that keeps working better and better for the billionaires, but worse and worse for everyone else. I believe that Democrats must, must, must win in November 2024.
And the way we do that is we build real credibility on the issue of lowering costs for American families.
Senator, I'm curious, in this conversation with President Trump, did the investigation into Fed Chair Powell come up?
So look, I'm not going to talk about details in a conversation, but I just want to say it was all about costs, about how we reduce costs for American families.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:02–0:31
2
What did Senator Warren discuss in her speech at the National Press Club?
0:31–2:46
3
What was President Trump's reaction to Senator Warren's speech?
2:46–7:14
4
How does Senator Warren propose to lower costs for American families?
7:14–10:09
Speakers
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