On Friday, Sen. Elizabeth Warren (D-Mass.) once again attacked President Donald Trump, blasting him for broken promises on lowering costs while his family's crypto venture has reportedly swelled their fortune by billions.
Warren Says Trump Raised Costs Instead Of Cutting Them
In a video posted on X, formerly Twitter, Warren said, "In a shock to absolutely no one, Donald Trump has turned out to be a big liar."
She pointed to rising prices for groceries, gas, school supplies and even baby strollers.
"Instead of lowering grocery costs, Donald Trump is playing red light green light with tariffs and actually raising your costs," she said, accusing Trump of betraying working families.
Warren also highlighted a report that the Trump family's holdings in World Liberty Financial's WLFI token surged in value after its trading debut, adding about $5 billion to their paper wealth.
"Trump profits from the presidency while you pay higher prices. It is a betrayal, and we will not let him get away with it," she added.
See Also: Trump's Immigration Crackdown Leaves US Short 1.2 Million Workers, Inflation Fears Mount
July Inflation Data Sends Mixed Signals
Warren's comments followed the release of July inflation figures, which showed headline consumer prices holding steady at 2.7% year-over-year, below economists' forecasts.
However, core inflation — which strips out food and energy — rose to 3.1%, its highest level since February, fueled by higher medical care, airline fares and household furnishings.
Economists had warned that Trump's sweeping tariffs on imported goods would filter through to consumer prices. While the broad impact remains muted, signs of pressure are beginning to surface in categories tied to trade.
Tariffs Viewed As Fiscal Cushion
Despite criticism, analysts say tariffs are shoring up U.S. fiscal stability.
The Congressional Budget Office projects duties will generate about $3.3 trillion over the next decade, helping ease deficit concerns.
"Forget the economic justification of tariffs. It is raising a lot of revenue," said Priya Misra, a portfolio manager at JP Morgan Asset Management.
Crypto Debut Bolsters Trump Family Wealth
The WLFI token, co-founded by Trump's sons and modeled after a stock-like launch, has reportedly become the family's most valuable asset on paper, surpassing parts of their real estate portfolio.
Nearly a quarter of all tokens are owned by the Trump family, though founders' holdings remain locked.
Read Next:
Image via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
