Elizabeth Warren, the Obama administration adviser on the Consumer Financial Protection Bureau, testifies during a hearing of the House Committee on Oversight and Government Reform in Washington, D.C., U.S., on Thursday, July 14, 2011. (Joshua Roberts/BLOOMBERG)

The high-profile consumer advocate just stepped down from her post as special adviser to the president in charge of the Consumer Financial Protection Bureau.

“It is time for me to think hard about what role I can play next to help rebuild a middle class that has been hacked at, chipped at, and pulled at for more than a generation — and that that is under greater strain every day,” Warren wrote in a post today on the local Democratic blog Blue Mass Group. “In the weeks ahead, I want to hear from you about the challenges we face and how we get our economy growing again.”

A Massachusetts Democrat who is assisting Warren confirmed that the former administration official will be spending the next few weeks listening to residents across the state. She’ll make a decision on her future plans after Labor Day.

Warren is also teaching a class at Harvard Law School this fall, a commitment she intends to keep regardless of her Senate decision.

Doug Rubin and Kyle Sullivan — the former chief of staff and former communications director, respectively, for Gov. Deval Patrick (D) — are assisting Warren in her decision-making.

Liberals had hoped that Warren would be nominated to head the government office she helped create, but opposition from Republicans in the Senate led President Obama to choose former Ohio attorney general Richard Cordray instead.

That loss, however, may well be the Democratic Senatorial Campaign Committee’s gain. Warren is considered by many to be the best candidate to take on Brown, although there are a number of less well-known challengers already in the Senate primary, including Newton Mayor Setti Warren, CityYear founder Alan Khazei and activist Bob Massie.

Brown will likely be a formidable foe for any Democrat, however. Most polls show that he continues to be very popular despite the state’s Democratic tilt, and he’s raised a huge amount of money — $2 million in the second quarter, giving him $9.6 million in the bank