Source: TalkingPointsMemo.com

New York Federal Reserve President William Dudley on Friday tried to calm people's nerves about rising food prices by reminding them that other products -- like iPads -- are getting cheaper.

"Today you can buy an iPad 2 that costs the same as an iPad 1 that is twice as powerful," Dudley said in Queens, Reuters reports. "You have to look at the price of all things."

But better iPads don't put food on the table, audience members reminded him. "When was the last time, sir, that you went grocery shopping?" one person asked. And, perhaps most succinctly, another told him, "I can't eat an iPad."

Yahoo's The Lookout points out that food prices have been rising since November 2009, and that consumers should expect to pay 4 percent more for food this year.

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