As fuel prices remain high and the U.S. annual inflation rate reached its highest level in decades, a billionaire CEO warned that Americans should be more concerned with rising food prices.
In an interview with Fox Business, United Refining Company and Gristedes CEO John Catsimatidis uttered similar worries as BlackRock CEO Larry Fink, who recently cautioned that the dramatic spikes in oil and mineral prices have distracted investors from the increase in food prices.
“You need optimism from the White House point of view to the American people, because everything that’s been done lately has hurt the American people and helped the rest of the world,” Catsimatidis told the network. “There is a problem in food prices that could happen as interest rates go up, as there will be shortages of certain products.”…