Headline RoundupApril 12th, 2024

Hopes for Interest Rate Cuts Fall Amid Persistent Inflation

Summary from the AllSides News Team

Persistently elevated inflation, combined with economic growth, has complicated the Federal Reserve’s plans to cut interest rates this year. 

For Context: The Fed has suggested it would cut interest rates multiple times in 2024, easing off of monetary tightening enacted throughout 2023 to rein in inflation. However, year-over-year inflation reached 3.5% in March, up from 3.2% in February.

Coverage from the Left and Center: Media angles on interest rates varied widely. While Business Insider (Lean Left bias) highlighted a JPMorgan strategist who said the Fed “needs to cut interest rates to lower inflation,” a CNN Business (Lean Left bias) analysis suggested the Fed could still raise interest rates. Meanwhile, The Wall Street Journal (Center bias) struck a more pessimistic tone, saying the Fed had been sent “back to an uneasy holding pattern,” and a Washington Post (Lean Left bias) analysis cast the economic data as strange, saying, “The economy still isn’t behaving the way anyone expected.” 

Coverage from the Right: Coverage of interest rate speculation was rare in right-rated outlets on Thursday; AllSides could only find recent original coverage of the issue in The National Pulse (Right bias). The Pulse’s article criticized President Joe Biden, although its headline misleadingly framed the president’s “prediction” as a statement of fact. Other right-rated outlets often covered inflation on Thursday, framing it as particularly damaging to both consumers and Biden’s reelection chances.

Featured Coverage of this Story

More headline roundups

AllSides Picks

More News about Banking and Finance from the Left, Center and Right

From the Left

From the Center

From the Right