Federal Reserve

Samuelson: Krugman ‘Maddeningly Wrong’ on Reagan and Inflation

julia.seymour — Mon, 12 Jan 2015 17:52:18 +0000

Washington Post columnist rebuts New York Times columnist Paul Krugman’s claim President Reagan had little to do with taming rising prices.

Julia A. Seymour

In an economic columnist face-off, The Washington Post’s Robert J. Samuelson declared Paul Krugman of The New York Times wrong about inflation history.

Samuelson said that Krugman’s Jan. 5, column made a “glaring error” when it claimed President Ronald Reagan had little to do with getting double-digit 1980s inflation under control. Samuelson said it was the first time he could recollect devoting an entire column to rebutting another person’s column.

— Julia A. Seymour is Assistant Managing Editor for MRC Business at the Media Research Center. Follow Julia A. Seymour on Twitter.

Liberal Politics Ignored, Yellen’s Gender the Focus of Network Coverage

julia.seymour — Wed, 08 Jan 2014 19:32:45 +0000

ABC, CBS, NBC gush over ‘historical’ nature of confirmation, exclude her left-wing views.

Sean Long

Janet Yellen was confirmed as Federal Reserve Chairman on Jan. 6, but in spite of becoming one of the most powerful bankers in the world, the broadcasts networks continued to ignore her left-wing views.

Instead of discussing Yellen’s support for fiscal stimulus and regulatory efforts, ABC, CBS, and NBC focused exclusively on her gender in recent news reports.

— Sean Long is Staff Writer at the Media Research Center. Follow Sean Long on Twitter.

Networks’ Discussions of Fed Stimulus 91 Percent Positive

julia.seymour — Wed, 18 Dec 2013 15:32:26 +0000

ABC, CBS and NBC mostly ignore criticism of quantitative easing and evidence it has done little to stimulate economy.

Sean Long

After spending about $2.3 trillion in stimulus since 2008, the Federal Reserve’s controversial quantitative easing (QE) strategy’s days may be numbered. MarketWatch expected a decision on the policy from the Fed on Dec. 18, following their two-day meeting.

— Sean Long is Staff Writer at the Media Research Center. Follow Sean Long on Twitter.

Networks Tout Fed Nominee Yellen’s ‘Brilliance’

julia.seymour — Thu, 10 Oct 2013 19:09:06 +0000

ABC, CBS and NBC sing praises of liberal likely to be next Federal Reserve chairman, only CBS mentions critics.

Sean Long

President Obama nominated Janet Yellen, Fed vice chair, to head the Federal Reserve on Oct. 9. If confirmed, she will take on Ben Bernanke’s role as chairman and be the first woman in that role. Networks lauded her nomination that evening, after having paid little attention to her liberal policies in recent months.

Broadcast network evening and morning shows were giddy at the nomination of Yellen. Her economic experience, intelligence and “working class roots” were all praised the night of her nomination and the following morning.

— Sean Long is Staff Writer at the Media Research Center. Follow Sean Long on Twitter.

Networks: Miss America More Important than Fed Nominee

julia.seymour — Wed, 09 Oct 2013 15:57:30 +0000

Janet Yellen and her left-wing views get less time than Miss America; ABC covers pageant winner 25 times more than potential Fed chairman.

Sean Long

The next Federal Reserve Chairman will be Janet Yellen. President Barack Obama plans to nominate her on Oct. 9. Ahead of the announcement, Yellen, the liberal Fed vice chairman, was considered the most likely candidate to replace Ben Bernanke ever since Larry Summers, her chief rival for the nomination, bowed out of the race on Sept. 16.

— Sean Long is Staff Writer at the Media Research Center. Follow Sean Long on Twitter.

Investor’s Business Daily Finds: Feds Economic Boost Didn’t Help Much

julia.seymour — Wed, 21 Aug 2013 15:08:47 +0000

Federal Reserve program to buy bonds has done ‘little’ to improve U.S. economy.

Julia A. Seymour

The Federal Reserve has spent more than $2 trillion buying up assets since 2008 (often government bonds and mortgage securities) in an attempt to shore up the economy. Proponents argued what was called “quantitative easing” or QE was necessary “based on the idea that without it, the nation’s economy would have imploded,” according to Investor’s Business Daily.

Bernankity

julia.seymour — Fri, 21 Sep 2012 15:43:25 +0000

Glenn Foden

Publish Date

September 19, 2012 - 11:42am

Networks Barely Discuss ‘Hidden’ Jobless, That Even WaPo, CNN Notice

julia.seymour — Thu, 14 Jun 2012 14:25:25 +0000

ABC, CBS and NBC ignore lower labor force in 82 percent of stories.

Julia A. Seymour

The May jobs report turned out to be an enormous disappointment, when the Bureau of Labor Statistics reported only 69,000 jobs gained on the payroll survey and the unemployment rate ticked up to 8.2 percent. The report also showed 49,000 downward revisions for the previous two months.

Networks Forget JPMorgan Chase CEO Dimon Used to be Close Friends with Obama

julia.seymour — Tue, 05 Jun 2012 14:57:25 +0000

Fair-weather friend Obama distances himself from Dimon once trouble arises.

Mike Ciandella

JPMorgan Chase CEO and Chairman Jamie Dimon and President Obama were once friends, but the three major networks were quick to forget this once JPMorgan Chase lost more than $2 billion. Earlier this year, Dimon was one of only three CEOs who had special access to the White House and Treasury Secretary Geithner, according to Associated Press.

'Cramer Claus:' Bernanke Gets a Lump of 'High-Sulfur Stinky Coal'

admin — Wed, 19 Dec 2007 21:06:49 +0000

Jeff Poor

CNBC stock picker “Mad Money” Jim Cramer played Santa on December 19 “Today” and made it clear that Ben Bernanke is on the naughty list.

“Cramer Claus” was on “Today” to say which economic sectors had been naughty and nice, but took the opportunity to fire shots at Federal Reserve Chairman Bernanke.

CNN's Velshi: Federal Reserve Board is 'Late to the Party'

admin — Wed, 12 Dec 2007 21:18:48 +0000

Jeff Poor

Investors weren’t the only ones disappointed with the Federal Reserve Board’s actions on December 11.

The Fed’s decision to cut the Fed funds rate 25 basis points and the Fed’s statement that accompanied the cut caused the Dow Jones Industrial Average (DJIA) to fall nearly 300 points.

CNN senior business correspondent Ali Velshi was critical of that statement on December 12.

Talking Ourselves into Recession

admin — Wed, 28 Nov 2007 20:48:36 +0000

Amy Menefee

When recession is whatever you feel, it can happen any time. But apparently the Federal Reserve doesn’t feel it’s coming in 2008.

A New York Times headline November 21 – on the front page – read: “Fed Expecting ’08 Slowdown, Not Recession.”

ABC’s Deborah Roberts covered the Fed’s report the same day on “Good Morning America,” but didn’t mention the Fed had stayed away from the “r-word.”

Ron Paul Says Federal Reserve 'Robbed' Americans of their Wealth

admin — Thu, 08 Nov 2007 23:05:49 +0000

Jeff Poor

Federal Reserve Chairman Ben Bernanke appeared before the Congressional Joint Economic Committee on November 8, but had to face criticism from Republican presidential candidate and Texas congressman Ron Paul.

Paul made accusations the Federal Reserve was stealing people’s money.

GDP Growth Missed by CBS, Downplayed by NBC

admin — Thu, 01 Nov 2007 18:26:27 +0000

Jeff Poor

The “meltdown in subprime mortgages,” “rising cost of oil” and “inflationary worries” have become catchphrases in negative media reports about the economy. After the Federal Reserve cut rates on October 31, journalists were at it again – ignoring positive economic news in favor of troubles.

Night and Day: CBS, ABC Opposite on Fed Rate Cut

admin — Wed, 19 Sep 2007 22:13:29 +0000

Jeff Poor

Was the Federal Reserve’s rate cut good or bad for the economy? Even the networks don’t agree. The 50 basis point interest rate cut caused CBS to warn about added threats to the economy and had ABC telling viewers the move was “more than welcome.”

CBS gave a downbeat assessment and focused its report not on the Fed’s rate cut, but its own poll expressing public sentiment about economy.