Yellen Discusses Inflation

Hello Folks. We’ve got some intense discussions heating up around Treasury Secretary Janet Yellen and her recent comments on rising food prices. Yellen’s statements have sparked controversy, with critics accusing her of downplaying the financial strain many Americans are feeling at the grocery store. Let’s break it down.

During an interview with Yahoo Finance’s Jennifer Schonberger, Yellen was asked about the noticeable “sticker shock” many experience when shopping for groceries. Schonberger pointed out that despite a drop in shipping costs and global food commodity prices, food prices in the U.S. remain stubbornly high. She questioned whether the U.S. should invest in agriculture to boost the food supply.

Yellen’s response was less than reassuring for many. She mentioned that the high prices are largely due to increased costs, including labor costs, that grocery firms are experiencing. She did, however, acknowledge that there could be some increases in profit margins.

FOX Business’ Jackie DeAngelis was quick to react. On “Fox & Friends Weekend,” she highlighted significant price hikes for commonly purchased goods under the Biden administration. For example, chicken prices have surged by 21.8%, bread by 20.1%, and bacon by 18.5%. DeAngelis criticized Yellen for what she perceived as “gaslighting” the American public, stating that people are genuinely feeling the financial squeeze.

“If she’s going to say that it’s not sticker shock, and it’s not for her, then don’t sit there and gaslight the American public that is seeing all of this and feeling it because it really hurts people’s budgets and they don’t want to hear you say it’s not a problem, or it’s not happening,” she said.

DeAngelis also attributed the persistent price hikes to Biden’s energy policies. She argued that these policies have driven up energy and labor costs, which in turn have increased food prices. According to her, a shift in energy policy under a different administration, specifically mentioning former President Trump, could potentially bring inflation down.

The debate over food prices and their impact on American families is far from over. As grocery bills continue to climb, the scrutiny on policy decisions and their economic consequences is intensifying.