Dolores, a retired California resident on a limited income, told CBS Bay Area News Tuesday that food prices under Biden are “ridiculous.”
“We’re on a limited income, retired, of course, [and] we’re old. So we don’t have that kind of [extra] money. We have to watch [what we spend].”
Food prices rose 9.5% last month compared to April 2021. That’s the biggest annual hike in 41 years, according to the Bureau of Labor Statistics.
Hayman Capital Management founder and CIO Kyle Bass told Fox Business Wednesday that inflation will cause a “significant” recession and food prices to spiral “much further.”
“The hard thing for the Fed is they don’t control things that have supply-side problems with monetary policy… They can’t control the availability of hydrocarbons with rates, and they can’t control the price of food with rates,” Bass said.
Tesla CEO Elon Musk warned Monday that economic conditions could push the US into a recession that will last up to 18 months. The tech billionaire says it’s one of the reasons he’s planning to vote for Republicans in the upcoming midterm elections.
Kendall & Casey have more.
