Yellen, 77, and her husband, economist George Akerlof, stopped by a Giant Food store in Washington, DC, after grabbing lunch at Japanese restaurant Raku.
Treasury Secretary Janet Yellen was spotted shopping at a Washington, DC grocery store with her husband on June 29, 2024. Matt Symons for NY Post Yellen and George Akerlof stocked up at a Giant Food store. Matt Symons for NY Post The couple were also joined by Yellen’s security detail. Matt Symons for NY Post
The millionaire couple had six security people in tow but pushed their own carts full of reusable Fresh Direct grocery bags out of the store after stocking up.
Yellen — who is worth an estimated $20 million — drew criticism this week when she appeared to dismiss concerns about rising grocery prices in the US.
Yellen’s grocery trip comes after she dismissed a question about inflation and rising food prices earlier this week. Matt Symons for NY Post
Yellen told Yahoo Finance that she goes grocery shopping every week. Matt Symons for NY Post Yellen and Akerlof pushed their own carts full of groceries. Matt Symons for NY Post Yellen denied having “sticker shock” at the store. Matt Symons for NY Post
“Have you been to the grocery store lately?” Yahoo Finance’s Jennifer Schonberger asked during the Monday sit-down.
“It’s sticker shock, isn’t it? 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. Should the US invest in agriculture to boost the food supply in this country?” Schonberger asked.
Yellen, however, started to say “No” before Schonberger even finished the question.
Yellen and her husband also stopped for lunched at the restaurant Raku. Matt Symons for NY Post Yellen claimed that rising prices reflect costs increases and labor costs increases that grocery stores have had to deal with. Matt Symons for NY Post Yellen and Akerlof leaving the restaurant. Matt Symons for NY Post
“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 reasoned, adding that she had met with several grocery CEOs who said they were cutting costs on essentials like bread and milk.
“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,” she opined.
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