Teresa Ghilarducci, Columnist

Frugality Goes Only So Far in Dealing With Inflation

Budgeting tips can help somewhat, but Americans really need raises.

March 31, 2022 at 12:30 PM UTC

Teresa Ghilarducci is the Schwartz Professor of Economics at the New School for Social Research. She's the co-author of "Rescuing Retirement" and a member of the board of directors of the Economic Policy Institute.

Should get a raise.
*Photographer: Luke Sharrett/Bloomberg via Getty Images*

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I have spent most of my career communicating about personal finance, income insecurity and embedded inequality.

Given the viral reaction on social media, it’s clear that a recent column of mine focused on specific ways households could combat rising prices did not fully convey my thinking on two of those broader issues. In trying to offer suggestions for people coping with inflation, I left readers with a “let them eat cake” (or lentils) impression, for which I and Bloomberg Opinion were lampooned (and worse).