You might imagine that when CNN does a non-news segment, you would get a break from their propaganda. In actuality, imagining is the only way to get a break from the network’s spin. Christine Romans hosts the business segments on CNN. Apparently they won’t play nicely with her at break unless she perverts her segments to knock Trump like everyone else. And she wants friends.
Most everyone in economics, on both sides of the political aisle, understands that when the economy is strong the Fed can raise interest rates. Low interest rates are an economic stimuli and the Fed can’t keep a stimulus running forever. Janet Yellen was able to begin raising interest rates under Obama and hopes to continue under Trump. But how does CNN portray the upcoming hikes?
Is she serious? Her graphic includes every negative aspect of “what a fed rate hike means to you.” She highlights all the ways higher interest rates can hurt an individual via higher payments on credit card, auto and home loans. How about the ways it can help:
- Increased interest on savings accounts & CDs
- More earnings in 401(K) plans
- More money in student 529 plans for college
This Lady does this type of propaganda constantly. She twists the booming stock market story into something only good for the rich, and don’t get me started on her tax lessons. CNN does get credit for consistency though.