While America struggles, grocery costs have risen under Joe Biden, and Yellen, who is worth $20 million, said she goes to the grocery store every week, and she claims she doesn’t feel any sticker shock due to inflation.
Treasury Secretary Janet Yellen surprised an interviewer when asked if she has felt ‘sticker shock’ at the grocery store due to inflation.
Before the election, a thriving economy may increase people’s faith in Biden’s leadership; nevertheless, the problem of ongoing inflation might undo it.
Under Biden, the cost of a normal trip to the grocery store often shocks Americans, resulting in double-digit percentage increases in grocery costs.
Yellen – who is worth about $20 million – said she goes to the grocery store ‘every week’ and isn’t shocked by the prices.
‘It’s sticker shock, isn’t it? Just when you look at shipping costs, those have come down, global food commodity prices have also come down but food prices still remain high,’ said Yahoo! Finance reporter Jennifer Schonberger.
Without even letting her finish the question, Yellen bluntly responded: ‘No.’
‘I think largely it reflects cost increases, including labour cost increases that grocery firms have experienced, although there may be some increases in margins,’ Yellen added.
Yellen added that she expects inflation to come down and says that it will ‘go back to the Fed’s two per cent target’ by early next year.
Since the cost of living has increased significantly in the years after the epidemic due to high mortgage rates and persistently high costs for food and other needs, the Biden administration has announced new initiatives to expand access to affordable housing.
Yellen touted the additional investments during her visit to Minneapolis on Monday.
The investments include providing $100 million through a new fund to support affordable housing financing over the next three years, boosting the Federal Financing Banks’ financing of affordable housing and other measures.
She blamed the continued slow decrease in inflation on housing costs, rather than the administration’s policies.
In the run-up to the 2024 election, voters’ top concerns continue to be the economy and inflation.
The annual rate of inflation fell slightly to 3.3 per cent in May – down from the month prior.
This is down from a 40-year high of 9.1 percent in June 2022, but still above the Federal Reserve’s 2 percent target.
Trump consistently talks about inflation during his presidential campaign.
With $20 million in Yellen’s bank account, she doesn’t need to pay attention to prices, she just grabs what she needs, throws it in the cart and pays with her card, and this is why she doesn’t have ‘sticker shock.’
This woman is completely and totally out of touch with average Americans. She came from a family of Polish immigrants, who came to America with absolutely nothing. We are what we come from and she should remember that. People are in poverty, but she is not!
Does she actually know how much a carton of milk is? How much does she think she pays? She really has no idea what planet she’s on.
If you want bread for under $2, there are options of course. It might not be whole wheat or 12-grain bread from Bob’s House Of Nutrition, but it’s cheap as chips. However, people don’t want to be feeding their children junk or substitutions.
Most of these people were not born rich, and some of them came from backgrounds where they struggled, but one person who certainly cannot relate is Donald Trump. He has never experienced any type of money issues. He was born rich from his father and he continues to be so. I’ll tell you who he relates to and it’s not you or me, it’s ME ME ME!
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