Treasury Sec. Janet Yellen, worth around $20 million, says she feels no ‘sticker shock’ at the grocery store

Treasury Secretary Janet Yellen confirmed how out of touch she and the Biden administration are with Americans struggling in President Joe Biden’s economy.

In a telling moment during an interview with Yahoo! Finance’s Jennifer Schonberger, Yellen brushed off concerns about “sticker shock” at grocery stores, delivering a flat response about inflation without the slightest expression of concern for ordinary Americans trying to put food on their tables.

“Have you been to the grocery store lately?” Schonberger asked in the Monday sit-down with the Treasury secretary.

“I sure have — I go every week,” Yellen replied.

“It’s sticker shock, isn’t it?” Schonberger pressed, to which there was an awkward silence followed by Yellen seeming to respond, “No.”

(Video Credit: Yahoo! Finance)

Perhaps a bit surprised by the reaction, Schonberger followed up.

“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,” she said. “I know they’re not rising at the rate they were last year, but they’re still up 20 percent from pre-COVID.”

“Should the U.S. invest in agriculture to boost the food supply in this country?” she asked.

Yellen then offered a simplistic explanation.

“Well, I think largely it reflects cost increases, including labor cost increases that grocery firms have experienced, although there may be some increases in margins,” she said.

Later she added that she expects the inflation rate to come down and “go back to the Fed’s two percent target” by early next year.

The truth-challenged Biden administration continues to deny that grocery prices, gas prices, and the cost of living have increased and have not relented for struggling Americans. White House Press Secretary Karine Jean-Pierre kept up the ruse during an MSNBC interview when she insisted costs have actually gone down under Biden.

Yellen, whom Forbes reported in 2021 was worth an estimated $20 million, praised efforts by grocery store CEOs who told her they were cutting the prices for “core purchases” of Americans such as milk, bread, and diapers.

“I think that’s to be applauded, I think that kind of thing is helpful, but I would be reluctant to agree that we should be centralizing agriculture,” Yellen said.

Speaking with CNN last month, Biden admitted there was a real problem with inflation but then insulted Americans by claiming they “have the money to spend.”

“It is real, but the fact is that if you take a look at what people have, they have the money to spend,” he told CNN’s Erin Burnett.

Despite the actual numbers and the fact that shoppers nationwide are seeing and feeling the effects of Bidenomics for themselves, the Biden administration continues to gaslight the country.

Social media users on X were not amused by Yellen’s lack of self-awareness.

Frieda Powers

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

Latest Articles