by Martin Armstrong
Armstrong Economics
Treasury Secretary Janet Yellen once again is once again gas lighting the public to believe that the Biden Administration has inflation under control. When questioned about the rising prices at grocery stores, Yellen denied that prices have soared astronomically.
“I think largely it reflects cost increases, including labor cost increases that grocery firms have experienced, although there may be some increases in margins,” Yellen, who has a net worth of $20 million, stated. She later touted that she met with several grocery store CEOs who said they were cutting costs. After all, Biden has continually blamed “greedy corporations” for rising food prices. “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 added.