Jun 9, 2026
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Treasury Secretary Scott Bessent found himself on the defensive after claiming that “groceries are going down” — only to be challenged on the reality many Americans are still seeing at the checkout line.
During a tense exchange at a Senate Finance Committee hearing, Sen. Maggie Hassan asked Bessent whether he thinks about the financial situation of ordinary Americans, after President Donald Trump previously said, “I don’t think about Americans’ financial situation. I don’t think about anybody.”
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Bessent pushed back, saying the president’s remarks had been taken out of context and insisting that the administration thinks about household costs “every day.”
But when Hassan pressed him on the rising gas, grocery and utility bills Americans are paying, Bessent made a claim that immediately drew scrutiny.
“Well, Senator, I’m going to have to disagree with you on some of that, because groceries are going down,” Bessent said. He then held up a printout of a Trump social media post touting the claim that “TRUMP’S MAKING FOOD AFFORDABLE,” which included select grocery items that had not soared in price.
Hassan’s response was blunt.
“When’s the last time you were in a grocery store?” she asked. “Because my husband and I were just in one. The average Granite Stater has paid $3,000 more since Donald Trump took office for basic goods and services.”
Bessent tried to downplay the inflation concern, saying he believes it will be a “short-term blip.”
Hassan wasn’t buying it.
“What is very clear to me is that neither you nor the president nor this administration are willing to acknowledge how much more people are paying at the gas pump, at the grocery store, in utilities, for healthcare — for all aspects of American life,” she said.
Are groceries really going down?
Bessent said grocery prices — or “food at home” in government inflation data — are up 2.5% since Trump took office, arguing that the increase is “half the annual amount under the Biden administration.”
But that is not the same thing as prices “going down.”
The latest official data shows grocery prices are still rising, just at a slower pace than during the worst of the post-pandemic inflation surge.
According to the Bureau of Labor Statistics, the food-at-home index rose 0.7% in April alone. Over the 12 months ending in April, grocery prices were up 2.9%.
That means American shoppers are not imagining the sticker shock. Even if the rate of inflation has cooled from its peak, prices are still moving higher from already-elevated levels.
And some categories have been hit much harder than the headline number suggests.
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According to the USDA, beef and veal prices were 14.8% higher in April 2026 than a year earlier, fresh vegetable prices were up 11.5% and retail tomato prices were nearly 40% higher.
The exchange highlighted a political problem for the Trump administration: The president campaigned on lowering costs, but many Americans are still paying more for basic necessities. And that includes not just groceries, but gasoline, electricity, insurance, healthcare and housing — all categories that can quickly squeeze a family budget.
And while Washington argues over who deserves the blame, households still have to deal with the bill.
The blunt reality is that inflation has been steadily eroding Americans’ purchasing power for decades. According to the Federal Reserve Bank of Minneapolis, $100 in 2026 had the same purchasing power as just $11.74 did in 1970.
The good news? Throughout history, savvy investors have always found ways to shield themselves from inflation’s bite — no matter who sits in the White House.
Here’s a look at three of them.
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A safe haven shines again
When it comes to preserving wealth and fighting inflation, few assets have stood the test of time like gold.
Its appeal is simple: Unlike fiat currencies, the yellow metal can’t be printed at will by central banks.
Gold is also considered the ultimate safe haven. It’s not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.
Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has repeatedly highlighted gold’s role in a resilient portfolio.
“People don’t have, typically, an adequate amount of gold in their portfolio,” Dalio told CNBC last year. “When bad times come, gold is a very effective diversifier.”
Despite a recent pullback, gold prices have surged by more than 30% over the last 12 months. Depending on your investing philosophy, this could also make it the time to buy at the dip.
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One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold.
Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties.
When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in precious metals for free. Just keep in mind that — like Dalio said — gold is typically one part of a well-diversified portfolio.
A time-tested income play
Gold isn’t the only asset investors turn to during inflationary times. Real estate has also proven to be a powerful hedge.
When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts for inflation.
Over the past ten years, the S&P Cotality Case-Shiller U.S. National Home Price NSA Index has jumped by 88%, reflecting strong demand and limited housing supply.
Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn’t exactly hands-off work — managing tenants, maintenance and repairs can quickly eat into your time (and returns).
The good news? You don’t need to buy a property outright — or deal with leaky faucets — to invest in real estate today. Mogul is a crowdfunding platform that offers an easier way to get exposure to this income-generating asset class.
As a real estate investment option offering fractional ownership in blue-chip rental properties, it gives investors monthly rental income, real-time appreciation and tax benefits — without the need for a hefty down payment or 3 a.m. tenant calls.
Founded by former Goldman Sachs real estate investors, the team hand-picks the top 1% of single-family rental homes nationwide for you. In other words, you gain access to institutional-quality offerings for a fraction of the usual cost.
Each property undergoes a rigorous vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.
Sign up for an account and browse available properties here to start investing today.
But this is only one vertical from the real estate sector. Other options also exist, especially for investors with capital on hand.
Another path is Lightstone DIRECT, which gives accredited investors access to single-asset multifamily and industrial deals.
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Lightstone DIRECT’s direct-to-investor model ensures a high degree of alignment between individual investors and a vertically-integrated, institutional owner-operator — a sophisticated and streamlined option for individual investors looking to diversify into private-market real estate.
With Lightstone DIRECT, accredited individuals can access the same multifamily and industrial assets Lightstone pursues with its own capital, with minimum investments starting at $100,000.
Read More: Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
A finer alternative
Prominent investors like Dalio often stress the importance of diversification — and for good reason. Many traditional assets tend to move in tandem, especially during periods of market stress.
That message feels especially relevant today. Nearly 40% of the S&P 500’s weight is concentrated in its ten largest stocks, and the index’s CAPE ratio hasn’t been this high since the dot-com boom.
This is where, for many investors, alternative assets come into play. These can include everything from real estate and precious metals to private equity and collectibles.
But there’s one store of value that routinely flies under the radar: It’s scarce by design, coveted worldwide and frequently locked away by institutions.
We’re talking about post-war and contemporary art — a category that has outpaced the S&P 500 with low correlation since 1995.
It’s easy to see why art pieces often fetch new highs at auctions: The supply of the best works of art is limited, and many of the most desirable pieces have already been snatched up by museums and collectors. That scarcity can also make art an attractive option for investors looking to diversify and preserve wealth during periods of high inflation.
Until recently, purchasing art has been a domain reserved for the ultra-wealthy — like in 2022 when a collection of art owned by the late Microsoft co-founder Paul Allen sold for $1.5 billion at Christie’s New York, making it the most valuable collection in auction history.
Now, Masterworks — a platform for investing in shares of blue-chip artwork by renowned artists, including Pablo Picasso, Jean-Michel Basquiat and Banksy — can help you get started with this asset class. It’s easy to use and, with 27 successful exits to date, Masterworks has distributed more than $65 million in total proceeds (including principal).
Simply browse their impressive portfolio of paintings and choose how many shares you’d like to buy. Masterworks can handle all the details, making high-end art investments both accessible and effortless.
New offerings have sold out in minutes, but you can skip their waitlist here.
Note that past performance is not indicative of future returns. Investing involves risk. See Reg A disclosures at masterworks.com/cd .
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Jing is an investment reporter for Moneywise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.
