The Organization for Economic Cooperation and Development (OECD) recently increased its estimates for U.S economic growth.Too bad it didn’t heighten network interest in the U.S. economy.
ABC World News Tonight with David Muir, NBC Nightly News with Lester Holt and CBS Evening News said nothing about the revised forecast on March 13 or March 14.
In Friday’s New York Times, Deborah Solomon and Kitty Bennett mocked President Trump’s new chief economic adviser Larry Kudlow, the conservative economist who will be the next director of the National Economic Council. There was yet another insulting NYT headline: “A TV Commentator Becomes a Presidential Adviser: Go to the Videotape.” The online headline was more blunt: “6 of Larry Kudlow’s Not-So-on-the-Money Predictions.” But what other economist (one who regularly writes for the NYT) has a flawed forecasting record?
The New York Times on Thursday dismissed Larry Kudlow, President Trump’s pick to head the National Economic Council (replacing Gary Cohn) in “President Picks TV Commentator as His Economic Adviser.” The conservative economist and associate director for economics and planning in President Reagan’s Office of Management and Budget was reduced to someone who Trump picked for his loyalty and Trump-style audacity.
During MSNBC’s 11:00 a.m. ET hour, co-anchor Stephanie Ruhle made a point of mocking President Trump’s newly-named economic advisor and longtime CNBC analyst Larry Kudlow for expressing trust in “God’s will” as he began his new White House role.
The Nasdaq Composite, a tech-heavy index of 5,000 stocks, set new record highs again on March 9 and 12. Citing that and a host of other economic factors, market expert Marc Chandler described the current state of the economy as a “Goldilocks moment.”
There are a couple of important economic lessons that the American people should learn. I'm going to title one "the seen and unseen" and the other "narrow well-defined large benefits versus widely dispersed small costs." These lessons are applicable to a wide range of government behavior, but let's look at just two examples.
February job gains came in at a whopping 313,000 new jobs, so much that NBC Nightly News anchor Lester Holt acknowledged it “blows away economists’ expectations.” The Wall Street Journal said expectations were at only 205,000. Unemployment also remained at the 17-year-low of 4.1 percent. But only one of the big three networks gave the good news any serious attention.
The Associated Press's Paul Wiseman has apparently tired of good economic news. Saturday, the AP reporter painted a frightening picture of what a trade war based on President Donald Trump's planned tariffs on a tiny sliver of U.S. imports might do to the world's economy, mischaracterizing a prominent economist's position to build his case.
CNN last updated a presentation tracking job growth since President Donald Trump's inauguration on January 5, the day the government issued its December jobs report. This halt coincided with the January effective date of the GOP-Trump tax-cut law and wide expectations of significant job growth because of that legislation, and is more evidence — as if we needed any — that the network which is obsessed with reporting negative news about Trump and his administration is allergic to anything which might make him and his policies look good.
As unpopular and questionable as President Trump’s new tariffs on steel and aluminum were, they did have some appeal to a seemingly unlikely group: Senate Democrats (along with a few House members). With the President signing the necessary documents in front of the cameras on Thursday flanked by American steelworkers, Senators let the press know they supported the move. But if you were only watching ABC’s World News Tonight and NBC Nightly News, you would think there was only opposition.
While interviewing Rep. Jeb Hensarling (R-TX) Tuesday morning, New Day co-host Chris Cuomo slammed a proposal that would roll back some of the Dodd-Frank regulations passed in response to the 2008 financial crisis.
Consumer confidence reached the highest level since November 2000, but that good economic news went unmentioned by the three broadcast networks’ evening newscasts.
ABC World News Tonight with David Muir, NBC Nightly News with Lester Holt and CBS Evening News with Jeff Glor all ignored the update from The Conference Board on Feb. 27. NBC Nightly News spent 21 seconds discussing the trivial (and not time sensitive) decline in average payout by the tooth fairy. That was 21 more seconds than they spent on how Americans feel about the U.S. economy.