These numbers were often characterized as challenging expectation In times of recession, or despite economic headwinds.wall street journal declared Despite solid growth last quarter, the US economy “entered the year with much less momentum as rising interest rates and still-high inflation weighed on demand.” almost comically Associated Press I wanted to know: “How do you know if the U.S. economy is in recession?”
A better question: When will the mainstream media recognize good economic news for what it is?
President Biden took a different view speech in Virginia on Thursday. “I don’t know if the news could get any better. Economic growth is 2.9%, better than experts expected,” he exclaimed. “I don’t think it’s an exaggeration to say that this is the proof of everything. [the] Biden’s economic plan is actually working.”
The end of last year, I spoke Meeting with Jared Bernstein, a member of the President’s Council of Economic Advisers. As he told me, the “data stream” simply didn’t support the pessimistic outlook many people are voicing. Every effort to explain the brighter prospects dismissed as a spin. At least in the short term, he seems to have had a better effect on the economy than many of the regime’s critics.
That’s not to say the chances of some kind of recession are zero, though. Inflation is still higher than he was a year ago, so the Fed will continue to raise rates. There is still the possibility of a decline. A potential default triggered by MAGA House’s brinkmanship policy could destabilize the economy.But the certainty of mainstream media claimed for Moon The idea that the US was on the brink of a recession seems erroneous, but strangely well known.
As with the red wave midterm elections that never happened, the media never seems to give up on its bleak predictions for the Biden administration. It’s worth noting that it widely denies that.
Aside from the media’s tendency to highlight negative news (because of the premise that good news doesn’t get as much attention), reporters are willing to buy into predictions that make the sky fall for Democrats. There are several factors that explain why.
First, the media remains desperately afraid accusations of liberal bigotryConstantly correcting course in the name of an illusory “balance” leads to parroting right-wing issues.
Second, the media are often trapped in past trends.first middle everytime Lose power and go to the party.Bad evaluation of the president everytime It means bad news for his party.and recession everytime followed by interest rate rises. The problem is that “always” is rarely accurate. (For example, Republicans under George W. Bush did well in the first midterm elections.)
Moreover, things are different now. The pandemic and accompanying recession are unlike any economic event that preceded it. And the cloud that Donald Trump hangs over his party is giving the Republican Party a unique setback in three straight elections.
Third, much like the premature demise of Biden’s first term, the Beltway media reports the midterm elections and the economy as a permanent opposition to the White House. Media personnel, while certainly listening to the White House, consistently refuse to praise the sitting president and consider themselves professional cynics. If the White House says it’s sunny outside, Must It means it’s raining.
Finally, groupthink is a long-standing problem in mainstream media. Reporters and editors move from one outlet to another. No one wants to stray too far from consensus. And too many political reporters see everything through the prism of partisan horse-racing politics.
All of these factors contribute to confirmation bias. The media starts with assumptions, sifts through contradictory data, and doubles down on facts that seem “true.”
solution? Newsroom diversity. More expertise in fields other than politics. Less succumbing to the threat of attacks from the right, less relentless negativity. These changes will benefit the media and the country.
