Fox & Friends calls inflation report that was in line with expectations a “nasty

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Doocy’s framing of the April report is simply wrong. 

The Federal Reserve has not said that inflation must fall “below 2%” before it can begin loosening interest rate policy. Fed Chair Jerome Powell and other officials have indicated that inflation moving toward its long-term target of 2% is a major factor in its decision whether to cut interest rates.

In fact, the inflation measure that the Fed tracks most closely isn’t even the CPI, but the personal consumption expenditures index (or PCE), which has actually been the lower of the two inflation measures.

And the slight decline in inflation both month-to-month and year-over-year cannot be read as “going the wrong way.” (As explained above, the CPI has been stable for a year.) 

Using Doocy’s logic, the Trump administration’s record on inflation wasn’t “good” either, with inflation above 2% during much of his term.

In contrast to Doocy’s misleading take, Fox Business’ Cheryl Casone correctly noted that the index report was in line with expectations.

Fox has attacked Biden over grocery prices, but the latest inflation report showed those prices falling

The April report also showed that grocery inflation — labeled in the report as “food at home” — declined by 0.2%. Grocery inflation remained flat during the two months prior.

Yet Fox has repeatedly misled its audience about grocery inflation, attacking Biden over food prices even though they have not increased.



This article was originally published by a www.mediamatters.org

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