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Trump Pardons Thanksgiving Turkeys

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photo courtesy of wh.gov

Trump continued the annual presidential tradition during an event Tuesday in the White House Rose Garden.

The act of leniency means 47-pound Drumstick and 36-pound Wishbone will instead get to live the rest of their lives at a Virginia farm.

Drumstick and Wishbone set Free to Virginia farm

First lady Melania Trump and son Barron joined the president for the light-hearted ceremony.

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Consumer prices jump much more than forecast, sparking inflation fears in some

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U.S. consumer prices rose considerably more than expected in January, fueling fears that inflation is about to turn dangerously higher.

The Consumer Price Index rose 0.5 percent last month against projections of a 0.3 percent increase, the Labor Department reported Wednesday. Excluding volatile food and energy prices, the index was up 0.3 percent against estimates of 0.2 percent.

The report indicated that price pressures were “broad-based,” with rises in gasoline, shelter, clothing, medical care and food.

Markets reacted sharply to the news. The Dow opened more than 100 points lower, but reversed those losses after the first half-hour of trading. Government bond yields also turned higher, with the benchmark 10-year note most recently trading near 2.88 percent, a gain of about 3.8 basis points.

Investors also began to price in the likelihood that the Federal Reserve will raise interest rates at least three times this year.

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