Sen. Warren on Trump phone call, credit card rate cap and tackling affordability

Summary

Senator Elizabeth Warren joins Squawk Box to discuss her phone call with President Trump, which the White House described as productive. She outlines her push for a cap on credit card interest rates and a Senate-passed housing supply bill stalled in the House, and spars with hosts over who is to blame for the affordability crisis. The conversation covers credit card industry profits, inflation comparisons across administrations, rising foreclosures, and the odds of bipartisan action.

• Warren said President Trump called her after a partisan speech; the White House called the conversation productive.
• Trump raised a credit card interest rate cap; Warren says she is ready to legislate and highlights roughly $150 billion in industry profits, a potential hit to card issuers if enacted.
• Warren urged Trump to help move a housing bill with 40 supply-boosting provisions that passed the Senate unanimously and is stalled in the House.
• She blamed Trump tariff, energy, and health care policies for rising grocery, utility, housing, and medical costs, and cited a 21% increase in mortgage foreclosures.
• Hosts countered that inflation is 2.7% now versus a 9% peak and 22% cumulative rise under Biden, with prices still rising toward the Fed's 2% target.
• A host-cited Wharton study said a 10% cap could make many card customers unprofitable and shrink credit availability; Warren pointed to lower-rate community bank and credit union cards.
• The interview ended with light banter about the presidential phone call and saving the number.