Rich Zeoli

The Rich Zeoli Show- Hour 3: Jim Tankerslay of The New York Times writes: “President Biden, whose approval rating has suffered amid high inflation, is beginning to pressure large grocery chains to slash food prices for American consumers, accusing the stores of reaping excess profits and ripping off shoppers. ‘There are still too many corporations in America ripping people off: price gouging, junk fees, greedflation, shrinkflation,’ Mr. Biden said last week in South Carolina. Aides say those comments are a preview of more pressure to come against grocery chains and other companies that are maintaining higher-than-usual profit margins after a period of rapid price growth. Economic research suggests the cost of eggs, milk and other staples—which consumers buy far more frequently than big-ticket items like furniture or electronics—play an outsize role in shaping Americans’ views of inflation. Those prices jumped more than 11 percent in 2022 and 5 percent last year, amid a postpandemic inflation surge that was t