Nonetheless no sticker shock, Janet?
Treasury Secretary Janet Yellen was noticed stocking up on groceries on Saturday — after dismissing a query about inflation and rising meals costs earlier this week.
Yellen, 77, and her husband, economist George Akerlof, stopped by a Big Meals retailer in Washington, DC, after grabbing lunch at Japanese restaurant Raku.
Treasury Secretary Janet Yellen was noticed procuring at a Washington, DC grocery retailer along with her husband on June 29, 2024. Matt Symons for NY Publish
Yellen and George Akerlof stocked up at a Big Meals retailer. Matt Symons for NY Publish
The couple have been additionally joined by Yellen’s safety element. Matt Symons for NY Publish
The millionaire couple had six safety individuals in tow however pushed their very own carts stuffed with reusable Recent Direct grocery luggage out of the shop after stocking up.
Yellen — who’s price an estimated $20 million — drew criticism this week when she appeared to dismiss considerations about rising grocery costs within the US.
Yellen’s grocery journey comes after she dismissed a query about inflation and rising meals costs earlier this week. Matt Symons for NY Publish
Yellen instructed Yahoo Finance that she goes grocery procuring each week. Matt Symons for NY Publish
Yellen and Akerlof pushed their very own carts stuffed with groceries. Matt Symons for NY Publish
Yellen denied having “sticker shock” on the retailer. Matt Symons for NY Publish
“Have you ever been to the grocery retailer recently?” Yahoo Finance’s Jennifer Schonberger requested through the Monday sit-down.
“I positive have — I’m going each week,” Yellen replied.
“It’s sticker shock, isn’t it? Simply if you take a look at delivery prices, these have come down, international meals commodity costs have additionally come down, however meals costs nonetheless stay excessive. Ought to the US spend money on agriculture to spice up the meals provide on this nation?” Schonberger requested.
Yellen, nonetheless, began to say “No” earlier than Schonberger even completed the query.
Yellen and her husband additionally stopped for lunched on the restaurant Raku. Matt Symons for NY Publish
Yellen claimed that rising costs mirror prices will increase and labor prices will increase that grocery shops have needed to take care of. Matt Symons for NY Publish
Yellen and Akerlof leaving the restaurant. Matt Symons for NY Publish
“I feel largely it displays value will increase, together with labor value will increase that grocery companies have skilled, though there could also be some will increase in margins,” Yellen reasoned, including that she had met with a number of grocery CEOs who stated they have been slicing prices on necessities like bread and milk.
“I feel that’s to be applauded, I feel that type of factor is useful, however I’d be reluctant to agree that we ought to be centralizing agriculture,” she opined.