Two of the Three Networks Ignore Highly Anticipated Fed Decision on Interest Rates

The Federal Reserve announced it wouldn’t raise interest rates, in part due to poor employment growth and economic “headwinds.” Two out of the three broadcast networks ignored the decision.

Federal Reserve Chairwoman Janet Yellen cited "headwinds weighing on the economy" and a weakened job market as reasons for not increasing the interest rate. The May jobs report, which The Atlantic called “very disappointing,” showed weaker job growth than in several years.

At a press conference on June 15, Yellen attributed the central bank’s decision to slow economic growth.

“The pace of improvement in the labor market appears to have slowed markedly,” she said.

May’s report showed the U.S. economy adding only 38,000 jobs in that month. Even the liberal Atlantic admitted that was “the smallest number of jobs added in a monthly jobs report since 2010.”

Broadcast networks, however, didn’t report Yellen’s decision that day. None of the June 15, ABC, CBS or NBC evening news shows reported the Fed’s decision. The following morning, only CBS This Morning read a news brief, while ABC and NBC continued to ignore the major economic news which could make the Obama economy look bad.

Yellen also noted that employment in April and May was weak and that the decline to a 4.7 percent unemployment rate “occurred because fewer people reported that they were actively seeking work.”

 

Economy Banking/Finance Recession Unemployment Federal Reserve ABC CBS NBC Atlantic Janet Yellen
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