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Stew Leonard Jr., CEO of Stew Leonard, discussed the impact of inflation on food prices as the holidays approach.
President Joe Biden and first lady Jill Biden will spend the Thanksgiving holiday on Nantucket Island of billionaire David Rubinstein.
Earlier this week, the president’s security personnel arrived in Massachusetts to prepare for the arrival of the president and his wife on Wednesday.
Rubinstein's home in Cape Abram, Nantucket. The house is worth 12 million U.S. dollars and the property is worth 30 million U.S. dollars. (Vision Government Solution)
The military vehicles arrived on the island by ferry from the Bureau of Shipping and set up a corridor for the president to reach the city center. According to a report in Nantucket Magazine, state police arrived by ferry shortly afterwards, and temporary flight restrictions within 30 nautical miles around Nantucket Memorial Airport took effect.
Rubinstein co-founded the Carlyle Group, with an estimated personal value of $4.5 billion. According to Forbes, before entering private equity in the 1980s, he briefly held government positions in President Jimmy Carter's White House.
Inflation affects charities and Americans’ ability to donate
The estimated value of Rubinstein’s home in Cape Abram is approximately US$8 million, and the total value of approximately 14 acres of land is approximately US$30 million. The hotel’s facilities include a hot tub and tennis court.
The couple bought the house after falling in love with the history surrounding the property and the "Native American history"-named after Abram Quarry, who is often touted as Nantucket The "Last Indian" on the island.
David Rubinstein, Co-founder and Managing Director of The Carlyle Group, delivered a speech at the 8th China Financial Market Conference in Beijing, China on Monday, November 9, 2009. The conference is hosted by The Wall Street Journal and lasts for one year.
Fox News reporter Peter Dussie asked White House Press Secretary Jane Pasaki on Tuesday about the messages Biden had spent time in the homes of billionaires during inflation and rising prices.
Psaki pointed out that compared with 2020, the price of a 20-pound turkey this year will only increase by $1, but emphasized that Biden is worried about "price increases." She also said: "No matter where you are, you are the president."
The Fed's inflation indicator hit a 31-year high, and prices continue to soar
However, the USDA reported that the average wholesale price of 8 to 16 pounds of frozen turkey in mid-November rose by $1.35 per pound, a 21% increase from the same period last year.
The U.S. Bureau of Agriculture estimates that this year’s Thanksgiving feast for 10 people includes sweet potatoes, bread rolls, vegetable trays, and cream pie at a cost of $53.31, an increase of 14% from a year ago. Prior to this year, the annual cost estimate has been declining since 2015.
"Inflation is real. Everyone is saying it. Everyone is feeling it," said Butterball President and CEO Jay Zendlin. "Whether it's labor, transportation, packaging materials, or energy for fueling factories-everything needs to cost more."
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The Republicans on the House Judiciary Committee tweeted a message emphasizing the president's apparent hypocrisy, saying "Ordinary America? Enjoy expensive gasoline and groceries!"
The Associated Press contributed to this report.
Quotes are displayed in real time or delayed for at least 15 minutes. Market data provided by Factset. Supported and implemented by FactSet Digital Solutions. Legal Notices. Mutual funds and ETF data are provided by Refinitiv Lipper.
Do not publish, disseminate, adapt or redistribute this material. ©2021 FOX News Network Co., Ltd. all rights reserved. Frequently Asked Questions-New Privacy Policy