Treasury Secretary Scott Bessent's February 2026 congressional testimony tested norms of Treasury oversight: two days of shouting matches with House Democrats (Maxine Waters asking to 'shut him up,' Gregory Meeks calling him a 'flunky'), followed by heated Senate Banking Committee exchanges where Democratic Senator Jack Reed called his conduct 'childish' and Senator Elizabeth Warren pressed him on whether Fed nominee Kevin Warsh would face investigations if interest rates aren't cut as Trump demands. Bessent refused to clarify, prompting Warren to call the situation 'an even taller steaming pile of corruption.'
The confrontations centered on three pressure points: tariffs adding an estimated $9,200 to new homes, a $500 million UAE stake in Trump's crypto firm taken days before inauguration, and the Community Development Financial Institution fund's role in financing affordable housing. Rep. Ro Khanna launched a formal House investigation into World Liberty Financial on February 5, citing potential conflicts of interest and national security risks. GOP megadonor Ken Griffin warned the UAE deal is 'categorically different' from prior conflicts and 'fundamentally compromising of our foreign policy,' amid Trump's 36% economic approval and voter affordability concerns heading into the 2026 midterms.