(The Daily Wire) In a bizarre tweet, the Federal Reserve Bank of St. Louis suggested that soy is a more economically efficient Thanksgiving meal option than turkey.
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 https://t.co/qmyjwZd7aU pic.twitter.com/pHv3ZR9o6u— St. Louis Fed (@stlouisfed) November 20, 2021
“A Thanksgiving dinner serving of poultry costs $1.42,” said a tweet discussing a Federal Reserve Economic Data blog post. “A soybean-based dinner serving with the same amount of calories costs 66 cents and provides almost twice as much protein.”
“And for Christmas you can have earth worms and cockroaches,” said Republican United States Senate candidate J.D. Vance.
“Next year it’ll be bugs,” concurred commentator Mike Cernovich.
“Quantitative easing and soy for Thanksgiving,” added Sen. Cynthia Lummis (R-WY). “Let’s save America from these people.”
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 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% — 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 — representing a 14% price hike in a single year. The price of turkey has increased by 24%.