“In other words, life is becoming less, not more, affordable for Americans–and the President’s response, it seems, is to put his name on currency”
“It is entirely plausible that he–and by extension, his Administration–believes that placing his name on physical currency will distract the public from the tangible, undeniable economic crises they face on a daily basis.”
Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, and U.S. Senator Jeff Merkley (D-OR), sent a letter to Scott Bessent, Secretary of the Treasury, questioning how the recent announcement to place President Trump’s signature on paper money will in any way benefit the American public as our nation confronts an affordability crisis of President Trump’s own making.
“In reality, Americans are facing an affordability crisis, and America’s economy is on shaky ground. On the same day that Treasury announced its plan to put President Trump’s signature on currency, mortgage rates climbed to ‘the highest level since the first week of September (2025)’ in response to the President’s illegal war in Iran, ‘squeezing Americans already struggling with high housing costs,’” wrote the Senators.
“The Organization for Economic Cooperation and Development projected that inflation in the U.S. would top four percent in 2026, ‘more than one percentage point higher than the group’s previous forecast’ and driven, once again, by President Trump’s reckless military actions in the Middle East. The S&P 500 dropped 1.7 percent, its ‘biggest daily decline since January,’ driven in part by steadily rising oil prices,” wrote the Senators. “This single day of bad economic news follows a year of rising costs for Americans. In 2025, for example, Americans were forced to shell out an additional $1,700 to pay for the President’s chaotic, illegal tariffs. The cost of groceries, housing, and electricity went up, as did inflation.”
The Senators concluded: “In other words, life is becoming less, not more, affordable for Americans–and the President’s response, it seems, is to put his name on currency and declare, with no evidence, that our nation is experiencing a ‘Golden Age’ of prosperity. It is deeply unclear how, if at all, the Administration believes that emblazoning U.S. currency with President Trump’s signature will address any of the serious problems facing the American public.”
The Senators request information on how the Administration’s decision will benefit the American public by April 15, 2026.
###