They are what we thought they were. The regime media, in their zeal to act as Biden propagandists, maximize every opportunity to tout some sliver of positive economic news that might offset years of suck in the view of the American electorate. Such is the case with ABC’s irrationally exuberant coverage of the recent spate of record stock market highs.
Watch as anchor David Muir and correspondent Erielle Reshef breathlessly proclaim the good news of the Dow pushing towards 40,000, as aired on ABC World News Tonight on Thursday, March 21st, 2024:
DAVID MUIR: We turn now to the economy tonight, and another record day for the stock market, in fact, the Dow tonight nearing a remarkable new milestone. The Dow gaining 269 points today, finishing the day at 39,781, closing in on that 40,000 milestone. The Dow more than doubling its value in the last four years, bringing some good news tonight for 401(k)s after Covid and the economic strain that came with it. Let's get right to ABC's Erielle Reshef, she’s live on Wall Street tonight, as the Dow nears 40,000. Erielle?
ERIELLE RESHEF: Hey, David. For the second day in a row, the market surging into record territory. The Fed just yesterday holding interest rates steady and signaling that three cuts could be coming by the end of the year. Some analysts predicting that the first cut could come as early as June. And, of course, that could help offset the cost of credit card debt, as well as car loans, but Americans are already feeling the stock market surge in their retirement accounts, with 401(k)s averaging- they’re up about $12,000. And I want to show you just how far we've come since the stock market crashed at the top of the pandemic. The Dow nearly doubling over the course of the past four years, of course, reason to hope, and positive signs of encouragement for so many Americans feeling the pinch, David.
MUIR: Erielle Reshef live on Wall Street, and of course we’ll be watching it again tomorrow. Erielle, thank you.
See that? Muir promises to watch the Dow tomorrow, and this is on the heels of oddly tying yesterday’s record Dow to the Fed’s decision to keep rates as they are:
ABC WORLD NEWS TONIGHT
WEDNESDAY, MARCH 20th, 2024:
DAVID MUIR: To the economy tonight, and to another record day in the stock market, following the Federal Reserve's decision to leave interest rates unchanged for now, and signaling it expects to cut rates three times this year. The Dow gaining more than 400 points, hitting a new record high of 39,512. The S&P 500 hitting a new record as well, closing at 5224.
About the Fed: Little was said in that report about the reasons why the fed funds rate went untouched. No mention whatsoever. What could the reason have possibly been? From, uh…ABC News:
The Federal Reserve held interest rates steady on Wednesday, opting to keep rates highly elevated as progress toward lower inflation has stalled.
The move pushes back rate cuts that the central bank expects to make some time this year. But the Fed stuck to its previous projection of three rate cuts by the end of 2024.
The Fed Funds rate remains between 5.25% and 5.5%, matching its highest level since 2001.
The decision arrives roughly a week after fresh inflation data showed inflation ticked up in February, the latest sign that progress toward cooling prices had struck a rough patch.
Ah. Inflation rears its ugly head yet again. Just not on Whirled News Tonight- that might harsh Muir’s stock market vibe.
A similar tone is struck by Erielle Reshef, touting “how far we’ve come”, “the Dow nearly doubling over the course of the past four years”, “reason to hope”, and “positive signs of encouragement for so many Americans feeling the pinch”. This so-called news report is indistinguishable from a Biden campaign press release, and stands in stark contrast to how positive financial news was covered during the Trump years.
If it weren’t for regime media, we’d have none at all.
