Today, Senator Andy Kim (D-NJ) emphasized the squeeze working Americans are feeling under the Trump administration’s affordability crisis when questioning Kevin Warsh, Trump’s nominee to be Chair of the Federal Reserve. During today's nomination hearing before the Senate Banking, Housing, and Urban Affairs Committee, Senator Kim outlined the reality of rising costs as Donald Trump tries to pretend they don't exist and pushed Warsh about the work needed to deliver Americans relief.

“I just wanted to start off by talking about the state of American families right now. Nearly 60% of people surveyed say that they're worried about affording the very basics...60% of Americans say that they cannot handle a $1,000 emergency. 40% of Americans saying that they can't handle a $400 emergency...I heard two months ago, President Trump say, ‘What word have you not heard over the last two weeks, affordability? Because I've won. I've won affordability.’”

WATCH AND SHARE SENATOR KIM’S QUESTIONS TO KEVIN WARSH

Senator Kim also pointed out that while President Trump tries to call energy prices and fuel price increases “fake inflation,” the reality is that, “right now, Americans have paid more than $8.4 billion more in gas during the first month of [the Iran] war.”

As Americans suffer under these high costs and inflation, Warsh’s nomination to be Chair is exceptionally consequential given the Fed’s role in looking out for Americans’ financial stability and setting interest rates without political interference from the White House or Congress. Senator Kim has repeatedly demanded that his nomination not move forward as Trump continues his crusade against The Fed’s independence through personal and political attacks on current-Chair Powell and Fed Governor Lisa Cook.