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Chuck Schumer: “What Donald Trump is doing is the magafication of monetary…”

Featuring: Chuck Schumer, Democratic | U.S. Senate New York

WATCH: I am speaking from the Senate floor

Published January 15, 2026 | Video Starts at 00:59

America's economic stability depends on impartial, stable monetary policy. Our central bank must always operate free of coercion, free of intimidation, and free from short term political calculation. But What Donald Trump is doing is the magafication of monetary policy. One of the last places we should have any kind of MAGA influence. Anyone with two eyes and half a brain can see what this probe is. (00:59–01:05)

CLAIM

Asserts that Donald Trump is influencing monetary policy with MAGA ideology.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Chuck Schumer

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“Launching a criminal investigation to coerce the Federal Reserve is a dangerous crossing of the Rubicon.”
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“America's economic stability depends on impartial, stable monetary policy.”
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“Our central bank must always operate free of coercion, free of intimidation, and free from short term political calculation.”
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“A brazen attempt to cannibalize the Fed's independence.”
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“When there's chaos in the Fed, interest rates go up.”
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“It becomes more expensive for people to borrow.”
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“Congress should not, cannot be silent in the face of such naked political attacks.”
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“Senate Republicans should act like they're in the majority and use their oversight powers to bring the DOJ to heel.”
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“We must hold the line against any Federal Reserve nominee from Donald Trump so long as this dark cloud hangs over the Fed.”
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“Donald Trump's fake Populism.”
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“A year ago, Donald Trump stormed into office on the promise to lower costs, to fight for ordinary Americans to unrig a rigged system.”
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“Donald Trump is not a populist. He's a posturer.”
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“The American people see that he talks a good game, but never does anything to accomplish what he wants to do when it comes to lowering their…”
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“In the last week, [Donald Trump has] talked about housing, credit cards, the price of beef trade, and done nothing on any of them.”
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“Donald Trump talks about credit cards one day, food prices the next, housing the day after, but never actually follows through by getting…”
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“Today, the Senate has a chance to take action to lower the cost of health care.”
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“Senate Democrats unanimously supported extending these credits last year.”
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“Leader Thune led the way to block this legislation and it ensured that people's premiums are now skyrocketing.”
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“Americans are in the middle of a health care emergency, all because the tax credits are not being extended.”
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“The best, quickest, simplest thing Congress can do to lower premiums is to pass a clean restoration of the credits that expired last year.”
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