Meghan McCain dove into the economy and the cost of groceries during an interview with the New York Post financial correspondent Lydia Moynihan on Wednesday’s episode of her “Citizen McCain” podcast.
Moynihan highlighted growing concerns around the U.S. economy, specifically the increase in price for goods like groceries, loans and how difficult it has become to pay off debt like credit cards or even pay off your car.
“I feel like we’re at this point in the economy where people are told they can’t trust themselves. . . Economists are criticizing the fact that people don’t feel good about the economy but economists are saying no it’s so much better, you should feel good,” Moynihan told McCain.
She continued: “And I hate that because why should someone in Washington D.C. lecture somebody who is living their reality wherever they are and they know they have less money at the end of the month when they buy groceries.”
Moynihan noted that the Federal Reserve is trying to tighten the economy by raising interest rates to slash inflation which is why the American public has seen a difference in their cost of living.
“So many people in my generation feel like they’re never going to have the American Dream,” Moynihan said. “I feel like there’s all of these tropes that we hear ‘don’t avocado toast’ and there are exogenous factors that are actually making it impossible for people to buy homes and live the American Dream.”
McCain responded “We have to have little luxuries. I saw this meme: boomers in the 1970s buying their homes with six raspberries and an almond. It was like these boomers dancing in a conga line. I do think it’s funny.”
Moreover, McCain brought up the state of grocery prices in the U.S., “I’m privileged. I have a job. My husband has a job. I don’t want to say I’m hurting the same way an average American is but the amount of money I’m spending at the grocery store. I can’t.” McCain asked Moynihan why groceries have increased 30% over the last four years and what leaders like President Joe Biden can do as that is the biggest concern for Americans in this election cycle.
Moynihan said inflation is still an issue and there is a lot of other factors. She pointed out like how the price of eggs and poultry has also increased dramatically — while also mentioning that there are droughts where we get food in certain parts of the country.
“I don’t think those food prices frankly are going to be coming down. I don’t. At least any time soon because inflation means it’s pretty much there to stay. We can hope for the price not increasing as quickly as possible but I don’t think we’re gonna see things go back to where they were pre-pandemic,” Moynihan said.
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