Senator Elizabeth Warren of Massachusetts took aim at President Donald Trump over rising costs during a speech on Monday, focusing on the pressure high interest rates are putting on ordinary Americans. What made the moment unusual was what happened immediately after she finished speaking: Trump called her directly.
According to Politico, the phone call didn’t soften her message. She said she repeated the same warning about affordability straight to the president, arguing that credit card debt has become one of the biggest financial traps for working families.
Warren told reporters that Congress already has the power to act, stressing that a law capping credit card interest rates could pass if Trump genuinely pushed for it. Trump posted on Truth Social last Friday asking for a one-year cap of 10 percent on credit card interest rates starting January 20. He said this would help with affordability.
Warren has been pushing Trump on this issue for over a year
Warren mentioned she told Trump a year ago that she would work on creating laws to cap interest rates. “In my remarks, I made it clear that despite promising to lower costs on Day One, Trump has done nothing but raise costs for families. I said that if he really wants to get something done, including capping credit card interest rates or lowering housing costs, he would use his leverage and pick up the phone,” she said.
A White House official confirmed that Trump and Warren had a productive call about credit card interest rates and housing affordability for Americans. Trump has been making several bold policy announcements recently, including his serious intentions about annexing Greenland.
Warren also pushed Trump to pressure House Republicans to pass the Senate’s bipartisan housing bill called the ROAD to Housing Act. This bill passed the Senate with full support and aims to build more housing and lower costs.
Trump already approved the Senate’s large bipartisan housing package. However, the House Financial Services Committee is working on their own housing bill, which should get a floor vote in the next few weeks. The president has shown willingness to engage in direct conversations with critics, similar to his recent call with President Petro.
Warren said Trump promised to lower costs on Day One but has only raised costs for families instead. She criticized him for driving up costs, creating chaos in communities, and abusing his power against critics.
Published: Jan 13, 2026 04:45 pm