His Own Fed Pick Wants Higher Rates, But Trump Wants a Trade War Instead.

I urge you to defend Congress’s authority under Article I, Section 8 to regulate foreign commerce, rather than allow the executive branch to govern by social media threats. On September 4, President Trump threatened on Truth Social to unilaterally cut off trade with every country running a surplus with the U.S. unless the Federal Reserve slashes interest rates. He cited the Supreme Court’s recent tariff ruling as proof he has the "absolute right" to do so—falsely claiming a decision that denied him emergency tariff authority under IEEPA somehow authorized an outright embargo. Worse, this threat directly contradicts his own Federal Reserve Chairman, Kevin Warsh, who recently warned that the Fed still has work to do to curb inflation. Following the president's comments and Friday's strong jobs data, the 10-year Treasury yield hit a one-year high—proving that markets view political interference as an inflation risk, not a solution. Coerced rate cuts paired with supply shocks are a proven recipe for stagflation, inviting foreign retaliation against American producers while following the same disastrous path that collapsed Turkey’s currency. I urge you to: 1. Reclaim Trade Authority: Co-sponsor and vote for the Congressional Trade Powers Reform Act of 2026 (S. 5081 in the Senate, or companion legislation in the House) to require congressional approval before major trade restrictions take effect. 2. Close IEEPA Loopholes: Explicitly bar the executive from weaponizing emergency trade embargoes to coerce domestic monetary policy. 3. Protect the Fed: Statutorily affirm the Federal Reserve’s operational independence from political bullying. 4. Hold Hearings: Convene immediate hearings in the Banking and Financial Services Committees to examine the economic fallout of this rhetoric. Abdication isn't neutral. Reassert Article I and protect our economy.