Kevin Hassett: ‘Grocery Prices Are Way Too High,’ People Have More Money, but Groceries Are Still High

RUSH EXCERPT:
HASSETT: "Well, it sure is a problem. Grocery prices are way too high. You know, it started out when we basically printed money and helicopter dropped it into the U.S. it created a 20% inflation in the past. You know, I go to the grocery store, I do the shopping, and I keep an eye on prices every week. And there‘s stuff like the price of beef that‘s still really, really high and very problematic for people. The thing is that that you mentioned the one month number that if you aggregate over the Trump term, that again, the typical overall worker is making $1,000 more after adjusting for inflation and 3 or 4000 more if they‘re in a blue collar job. And so those people have more money for groceries. But grocery prices are still high, and we‘ve still got a lot of work to do. Now, one of the things that we‘ve been doing is that we‘ve been taking steps to address these issues. So we started out with avian flu, and everybody was talking about egg prices. Egg prices are really low right now, and we just have this massive effort by Brooke Rollins to address this pest, this coming in and made it so we had to shut the border to Mexico so that the pest wouldn‘t spread all over the U.S. and we just reopened the border from Mexico. So there should be good news on beef prices right around the corner."