Betsey Stevenson, a former member of President Barack Obama’s Council of Economic Advisers, recently said on X, previously known as Twitter, to share her perspective on the significance of coffee in daily life. This came after financial advisor, author, and podcast host Suze Orman criticized the lavish spending habits of young individuals.
What Happened: On Tuesday, Stevenson posted her thoughts on the quality of coffee and the lack of competition in the U.S. market.
She stated, “Starbucks quality is too low for the prices and the United States does not do enough to foster the kinds of competitive markets that might get us better coffee.”
See Also: S&P 500, Nasdaq To Open Mostly Flat Today: What’s Driving Stock Futures?
Stevenson’s tweet was in response to personal finance expert Orman’s earlier comments on the financial implications of daily coffee purchases.
“If you were 25, and rather than [buying a Starbucks] every day, you put $100 a month into a Roth IRA or retirement account every day until you were 65… You’d have $1 million dollars,” Orman had said.
She said, “She seems to forget how much joy a good coffee can provide to people’s daily lives.”
Why It Matters: Orman had previously argued that daily coffee purchases could significantly impact personal finances, especially for those struggling with credit card debt or saving for retirement. Her comments sparked a debate on the value of small daily expenditures and their long-term financial consequences.
Stevenson’s tweet adds a new dimension to this conversation by focusing on the quality of the product and the need for more competition in the market. This perspective is particularly relevant for “Sandwichers” – adults supporting both aging parents and young-adult children, who often overlook the value of small savings.
Photo Courtesy: Shutterstock.com
Read Next: US Consumer Sentiment Holds Steady In March, Inflation Expectations Remain Above Fed’s 2% Target
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
