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During President Donald Trump’s first term, various economic indicators presented an opportunity for positive reporting prior to the COVID pandemic lockdowns. However, broadcast networks had a different agenda, often highlighting unfavorable developments while downplaying economic successes.
Between January 1, 2017, and January 26, 2018, the Dow Jones set 31 records, with an overall rise of more than 25% in 2017. Despite these impressive gains, the networks frequently chose to overlook them. Instead, when the market faced setbacks, they entered into a narrative of uncertainty. For example, NBC’s Lester Holt posed a provocative question, asking whether “the so-called Trump bump” was over.
Current Economic Turmoil
In the context of ongoing tariff turbulence, the broadcast networks continue to amplify negative news. Recently, the Bureau of Labor Statistics reported a stronger-than-expected addition of 228,000 jobs in March. Yet, the evening broadcast coverage was alarming. CBS Evening News omitted the positive report, while ABC’s World News Tonight allocated only 14 seconds to the announcement. On NBC Nightly News, Holt exemplified a commitment to a negative narrative, emphasizing a downturn in the stock market.
Focus on Market Losses
The broadcast networks’ portrayal of the markets included alarming graphics that contributed to a sense of crisis. Holt highlighted the $5 trillion loss from U.S. markets, stating it created an atmosphere where companies were compelled to increase consumer prices and consumers faced rising costs. Even the positive jobs report failed to counteract the day’s market decline, with Holt underscoring the ominous tone.
Amidst Positive Turns
When faced with improving market conditions on April 9, after President Trump announced a temporary pause on new tariffs—with the exception of China—NBC anchor Tom Llamas cautiously reported the good news. However, rather than celebrating the reversal, he raised questions about what it meant for the future. Llamas stated that doubts lingered over the implications for consumers.
Business correspondent Christine Romans acknowledged the positive market gains. Nevertheless, her remarks also alluded to consumer concerns about rising prices linked to existing tariffs. This tendency to diminish good news by coupling it with inevitable challenges stood out during the broadcasts
Inflation Reporting Discrepancies
Broadcast networks have exhibited a marked inconsistency when reporting on inflation, especially during Biden’s presidency. In November 2021, NBC’s Stephanie Ruhle downplayed inflation concerns on Sunday Today, suggesting that consumers were financially equipped to handle higher prices.
Fast forward to the present, and the same networks highlight potential inflation concerns in the future without looking into the current dynamics of inflation. On April 10, the consumer price index showed a slight decline of 0.1%, resulting in a year-over-year inflation rate of 2.4%. However, this positive development received limited coverage. NBC only allocated eight seconds to report that consumer prices had dropped in March, overshadowed by a predominantly negative narrative.
Limited Coverage of Declining Consumer Prices
On CBS, anchor John Dickerson acknowledged the fall in gasoline prices and their contribution to reducing inflation, yet this informative segment amounted to a mere nine seconds of coverage amidst a five-minute discussion focused on tariff stresses. ABC completely bypassed the consumer price report, prioritizing a story of China’s restrictions on American movie imports, likely to resonate poorly with its Disney parent company.
Further Complications in Reporting
In an added twist, the PBS News Hour precedes its remarks on inflation stats with disparaging comments about Trump’s economic impact. Former Treasury Secretary Janet Yellen characterized the situation as an administration’s self-inflicted wound. She declared it the worst such event of her experience, overshadowing the factual economic discussions.
Further complicating matters, PBS reported that economists warned of potential price hikes due to tariffs. Such coverage illustrates the tendency of networks to shift the focus from current metrics to fears of impending crises.
Understanding Media Narrative Strategies
The overarching narrative portrayed by broadcast networks reflects a consistency in fostering a predominantly negative perspective regarding Trump’s administration. This approach raises significant questions about the integrity of the coverage. While facts may be presented accurately, the manner in which they are framed can transform them into something far removed from objective journalism.
Overall, the broadcast networks reveal their bias through selective reporting, frequently showcasing a dark view of economic developments associated with Trump’s presidency while relegating positive news to the background. Such practices call into question the standards of journalistic integrity and how economic narratives are shaped for public consumption.
