{"id":1044239,"date":"2021-11-22T12:45:38","date_gmt":"2021-11-22T17:45:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1044239"},"modified":"2021-11-22T12:45:40","modified_gmt":"2021-11-22T17:45:40","slug":"federal-reserve-nudges-americans-to-swap-turkey-for-soy-at-thanksgiving","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/federal-reserve-nudges-americans-to-swap-turkey-for-soy-at-thanksgiving\/","title":{"rendered":"Federal Reserve Nudges Americans To Swap Turkey For Soy At Thanksgiving"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffederal-reserve-nudges-americans-to-swap-turkey-for-soy-at-thanksgiving%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1044239&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>In a bizarre tweet, the Federal Reserve Bank of St. Louis suggested that soy is a more economically efficient Thanksgiving meal option than turkey.<\/p>\n<p>\u201cA Thanksgiving dinner serving of poultry costs $1.42,\u201d said a tweet discussing a Federal Reserve Economic Data blog post. \u201cA soybean-based dinner serving with the same amount of calories costs 66 cents and provides almost twice as much protein.\u201d<\/p>\n<p dir=\"ltr\" lang=\"en\">From the FRED Blog: A Thanksgiving dinner serving of poultry costs $1.42. A soybean-based dinner serving with the same amount of calories costs 66 cents and provides almost twice as much protein <a href=\"https:\/\/t.co\/qmyjwZd7aU\">https:\/\/t.co\/qmyjwZd7aU<\/a> <a href=\"https:\/\/t.co\/pHv3ZR9o6u\">pic.twitter.com\/pHv3ZR9o6u<\/a><\/p>\n<p>\u2014 St. Louis Fed (@stlouisfed) <a href=\"https:\/\/twitter.com\/stlouisfed\/status\/1462176434420690946?ref_src=twsrc%5Etfw\">November 20, 2021<\/a><\/p>\n<p>The <a href=\"https:\/\/fredblog.stlouisfed.org\/2021\/11\/turkey-or-tofurkey\/?utm_source=twitter&amp;utm_medium=SM&amp;utm_content=stlouisfed&amp;utm_campaign=f0b09c47-8a14-4e71-a69b-a8a961b55fab\">blog post<\/a> likewise emphasizes the nutritional benefits of soy:<\/p>\n<p>Now for the main course: turkey (i.e., poultry) or tofurkey (i.e., soybeans)? According to the U.S. Department of Agriculture, roasted turkey has almost 3 times the caloric value and 1.5 times the protein value of an equivalent serving of fried tofu by weight. Between 1990 and the time of this writing, the average global price of poultry has been 6 times higher than the price of soybeans.<\/p>\n<p>As of the third quarter of 2021, a hearty Thanksgiving dinner serving of turkey costs $1.42. A tofurkey (soybean) dinner serving with the same amount of calories costs $0.66 and provides almost twice as much protein. Keep in mind that this plant-based meal would be almost 3 times larger by weight than the poultry-based meal and may either keep you at the dinner table longer or provide you with more leftovers. Of course, our calculations here don\u2019t include the time value, energy costs, and additional ingredients required to cook the meals.<\/p>\n<p>Conservatives on social media were not enthused by the Fed\u2019s tweet.<\/p>\n<p>\u201cAnd for Christmas you can have earth worms and cockroaches,\u201d <a href=\"https:\/\/twitter.com\/JDVance1\/status\/1462497190576803847\">said<\/a> Republican United States Senate candidate J.D. Vance.&nbsp;<\/p>\n<p>\u201cNext year it\u2019ll be bugs,\u201d <a href=\"https:\/\/twitter.com\/Cernovich\/status\/1462496235642933253\">concurred<\/a> commentator Mike Cernovich.<\/p>\n<p>\u201cQuantitative easing and soy for Thanksgiving,\u201d <a href=\"https:\/\/twitter.com\/CynthiaMLummis\/status\/1462485320637812743\">added<\/a> Sen. Cynthia Lummis (R-WY). \u201cLet\u2019s save America from these people.\u201d<\/p>\n<p>The Federal Reserve has a dual mandate of maximum employment and stable price levels. After nearly two years of aggressive monetary stimulus, the central bank announced <a href=\"https:\/\/www.dailywire.com\/news\/as-high-inflation-persists-federal-reserve-unveils-first-official-plan-to-roll-back-stimulus\">plans<\/a> to roll back its monthly asset purchases by $15 billion in both November and December while keeping near-zero interest rates.<\/p>\n<p>Since January, however, the inflation rate has climbed from 1.4% to 6.2% \u2014 significantly increasing food costs ahead of Thanksgiving.<\/p>\n<p>According to the American Farm Bureau Federation, a lobbying group representing the American agriculture industry, the average <a href=\"https:\/\/www.dailywire.com\/news\/bidens-inflation-farm-bureau-says-thanksgiving-dinner-will-cost-14-more-this-year\">cost<\/p>\n<p><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a bizarre tweet, the Federal Reserve Bank of St. Louis suggested that soy is a more economically efficient Thanksgiving meal option than turkey.\u201cA Thanksgiving dinner serving of poultry costs $1.42,\u201d said a tweet discussing a Federal Reserve Economic Data blog post. \u201cA soybean-based dinner serving with the same amount of calories costs 66 cents and provides almost twice as much protein.\u201dFrom the FRED Blog: A Thanksgiving dinner serving of poultry costs $1.42. A soybean-based dinner serving with the same amount of calories costs 66 cents and provides almost twice as much protein https:\/\/t.co\/qmyjwZd7aU pic.twitter.com\/pHv3ZR9o6u\u2014 St. Louis Fed (@stlouisfed) November 20, 2021The blog post likewise emphasizes the nutritional benefits of soy:Now for the main course: turkey (i.e., poultry) or tofurkey (i.e., soybeans)? According to the U.S. Department of Agriculture, roasted turkey has almost 3 times the caloric value and 1.5 times the protein value of an equivalent serving of fried tofu by weight. Between 1990 and the time of this writing, the average global price of poultry has been 6 times higher than the price of soybeans.As of the third quarter of 2021, a hearty Thanksgiving dinner serving of turkey costs $1.42. A tofurkey (soybean) dinner serving with the same amount of calories costs $0.66 and provides almost twice as much protein. Keep in mind that this plant-based meal would be almost 3 times larger by weight than the poultry-based meal and may either keep you at the dinner table longer or provide you with more leftovers. Of course, our calculations here don\u2019t include the time value, energy costs, and additional ingredients required to cook the meals.Conservatives on social media were not enthused by the Fed\u2019s tweet.\u201cAnd for Christmas you can have earth worms and cockroaches,\u201d said Republican United States Senate candidate J.D. Vance.\u00a0\u201cNext year it\u2019ll be bugs,\u201d concurred commentator Mike Cernovich.\u201cQuantitative easing and soy for Thanksgiving,\u201d added Sen. Cynthia Lummis (R-WY). \u201cLet\u2019s save America from these people.\u201dThe Federal Reserve has a dual mandate of maximum employment and stable price levels. After nearly two years of aggressive monetary stimulus, the central bank announced plans to roll back its monthly asset purchases by $15 billion in both November and December while keeping near-zero interest rates.Since January, however, the inflation rate has climbed from 1.4% to 6.2% \u2014 significantly increasing food costs ahead of Thanksgiving.According to the American Farm Bureau Federation, a lobbying group representing the American agriculture industry, the average cost of a Thanksgiving meal for ten people will be $53.31 in 2021 \u2014 representing a 14% price hike in a single year. The price of turkey has increased by 24%.\u201cSeveral factors contributed to the increase in average cost of this year\u2019s Thanksgiving dinner,\u201d AFBF senior economist Veronica Nigh explained. \u201cThese include dramatic disruptions to the U.S. economy and supply chains over the last 20 months; inflationary pressure throughout the economy; difficulty in predicting demand during the COVID-19 pandemic and high global demand for food, particularly meat.\u201d\u201cThe trend of consumers cooking and eating at home more often due to the pandemic led to increased supermarket demand and higher retail food prices in 2020 and 2021, compared to pre-pandemic prices in 2019.\u201dThe Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a member.\u00a0<\/p>\n","protected":false},"author":99,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1044239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1044239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1044239"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1044239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1044239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1044239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1044239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}