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Americans exaggerate the impact inflation has on their lives during a Wednesday segment on MSNBC, Michelle Singletari, a personal financial columnist for the Washington Post, said.
“There’s a new poll by Politico, Morning Consult that I think is quite revealing,” MSNBC host Chris Jansing said. “38% of Americans show they’d rather see a recession than we’re dealing with inflation.” “I read this to mean that more than a third of Americans are so stressed by what they have to pay for gas, food, everyday items, and rent that they would rather see a stagnation. Is this where we are now?”
Singletary responded by saying that many Americans complained of too much inflation and said, “The Biden administration is doing everything in its power to help Americans.”
“You know, I’m just going to say this,” she said, “and if I get hit for it, I don’t care.” “There are a great deal of Americans where it is inconvenient that they are spending more, but they will not.”
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“You have to stop complaining when there are so many people that the inflation rate literally means they might only eat two meals instead of three,” she added. “There are Americans who have done very well in the last couple of years in the market. You still have your job. And yes, gas costs more, but guess what? You can still have that vacation, that Fourth of July vacation, you can still eat out.”
The Washington Post columnist went on to say that some Americans need to “calm down and step back.”
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She also urged Americans to stop checking their retirement accounts and instead focus on helping others.
“I try to calm myself down and try to help others realize what you can do and what you can do is keep saving,” she said. “If you don’t need to drive, don’t drive. If you can put off a project, put it off. But if you’re in a position to eat at a restaurant, even if the meal is a little more, go eat at that restaurant and help save a business.” Still trying to overcome the epidemic.”
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Singletary writes “The Color of Money,” a nationwide column on personal finance that often includes discussions of race. Through her columns she criticized the reader for not agreeing with her and for seeing her experience “through his white eyes,” and she praised white people who repented of their alleged racial sins.
Inflation hit a 40-year high based on the Labor Department’s Consumer Price Index report, and gas prices recently broke $5 a gallon for the first time in American history.