Megan Henney
Megan Henney is a reporter for FOX Business and Fox News who covers economics with a focus on the Federal Reserve, monthly data reports and what this all means for American consumers. Since joining Fox in 2017, Megan has chronicled the coronavirus-induced recession, subsequent government response and financial impacts of unprecedented levels of federal spending nationwide A Pittsburgh native, Megan graduated from Penn State University with a B.A. in both political science and print journalism and a minor in history. She lives in Baltimore, Maryland.
57%
The Daily's Verdict
This author has a mixed reputation for journalistic standards. It is advisable to fact-check, scrutinize for bias, and check for conflicts of interest before relying on the author's reporting.
Bias
85%
Examples:
- The article uses a lot of examples that reflect a specific position, such as the expectation for interest rates and the central bank's focus on job growth
Conflicts of Interest
50%
Examples:
- Obviously, the recent, rapid three-year rise in home prices is unsustainable
- The author quotes experts who use extreme language to describe inflation such as 'price pressures within the economy slowed again in February'
Contradictions
100%
Examples:
- The Fox Business article states that the September jobs report showed a strong job growth. However, the CNN and NPR articles contradict this by stating that the job growth was weaker than expected in September.
Deceptions
30%
Examples:
- The article claims that existing home sales tumbled to their lowest level since 1995 last year but this is incorrect as it fell to their lowest level since August 2010.
- The article states that there were about 1 million homes for sale at the end of December which includes both new and previously owned homes, however this number is incorrect.
Recent Articles
Prominent Short Seller Andrew Left Charged with Securities Fraud: Allegedly Manipulated Stock Market for $16 Million Profit
Broke On: Friday, 26 July 2024Prominent short seller Andrew Left, known for his firm Citron Research and appearances on cable news channels, has been charged with securities fraud by federal prosecutors and the SEC for manipulating the stock market using his following to net at least $16 million in profits. The charges include allegations of publishing false reports to defraud social media followers and one count of engaging in a securities fraud scheme. 
Record Number of Home Sales Canceled in June: A Significant Decline and New Record Highs for Prices
Broke On: Tuesday, 23 July 2024Home sales declined significantly in June with record cancellations and a decrease in existing home sales to an annual rate of 3.89 million units, the slowest pace since December (CNBC, Bloomberg). Despite this, median home prices reached new record highs of $426,900 due to affordability pressures and low inventory levels (Fox Business). The market remains challenging for buyers but shows signs of shifting towards more balanced conditions with increasing inventory and declining sales. 
Fed Chair Powell Balances Inflation and Labor Market Concerns, Signals Possible Rate Cut
Broke On: Tuesday, 09 July 2024Federal Reserve Chair Jerome Powell expressed concerns about the potential negative impact of holding interest rates too high for an extended period, acknowledging recent data showing inflation receding and indicating continued progress could lead to rate cuts. Powell emphasized the need to strike a balance between cooling the economy and fully stamping out inflation without causing a recession. Despite some lawmakers urging for earlier rate cuts, Powell indicated more economic data confirming cooler inflation is needed before making a decision. Core Inflation Slows Down: PCE Index Shows Prices Rise at Softest Pace in Six Months
Broke On: Friday, 28 June 2024The Federal Reserve's preferred inflation measure, core PCE index, decelerated in May with a 0.1% increase from the prior month and a 2.6% yearly rise. Household spending rebounded while personal income reached $23.9 trillion, second only to March 2021 stimulus payments. Despite this, traders predict a 59.5% chance of a September rate cut due to slowing inflation and solid income growth. 
Record Housing Inventory Boost: 35.2% More Homes for Sale in Tampa, Phoenix, and Orlando Amidst Persisting Affordability Challenges
Broke On: Sunday, 09 June 2024In May 2024, the US housing market saw a significant increase in inventory with a 35.2% year-over-year growth, led by Tampa (87.4%), Phoenix (80.3%), and Orlando (78.0%). Despite this trend, affordability remains an issue due to high mortgage rates and prices that have risen 37.5% since 2019 to a median of $442,500. 
Surprising May Jobs Report: 272,000 New Jobs Added Amidst Unemployment Rate Increase and Strong Wage Growth
Broke On: Friday, 07 June 2024The US labor market added 272,000 jobs in May despite expectations for a slowdown, with sectors such as health care, government, leisure and hospitality, and professional scientific and technical services contributing to the growth. The unemployment rate unexpectedly rose to 4%, while wage growth remained strong. This conflicting data has economists assessing the health of the labor market and its impact on inflation. 
Fed's Persistent High Interest Rates: Balancing Inflation and Economic Growth
Broke On: Wednesday, 29 May 2024The Federal Reserve maintains high interest rates to combat persistent inflation, but some economists argue that the neutral rate is higher than recognized. Inflation pressures remain in sectors like housing and healthcare. The Fed's communication may have created a paradoxical easier financial environment, making rate cuts more difficult. Despite acknowledging further rate increases are unlikely, concerns about the economy's resilience persist. 
Record Household Debt Reaches $17.69 Trillion in Q1 2024: Mortgage Balances Surge, Credit Card Delinquencies Rise
Broke On: Tuesday, 14 May 2024Total household debt hit a new record of $17.69 trillion in Q1 2024, with mortgage balances increasing by $190 billion and credit card balances decreasing slightly. Housing debt and auto loans saw growth, while other non-housing debts declined. Delinquencies for all debt outside student loans have risen to their highest level since 2012, with Generation Z borrowers and those in low-income neighborhoods being most affected. 
Producer Prices Surge, Consumer Inflation Awaits: Retail Sales and Inflation Reports Impact Markets
Broke On: Monday, 13 May 2024The Labor Department reported a larger-than-expected increase in producer prices, up 0.5% from March and 2.2% annually. Consumer inflation is also expected to rise, while retail sales are forecasted to have grown 0.4% last month. GameStop shares surged, costing short sellers over $1 billion as the meme stock trend continues. 
April Job Growth Slows to 175,000 Added as Health Care and Social Assistance Sectors See Largest Gains
Broke On: Friday, 03 May 2024Job growth slowed to 175,000 positions in April, the lowest since October last year, with the health care sector leading payroll gains. The unemployment rate inched higher to 3.9%. Construction and manufacturing also saw modest hiring increases while several sectors experienced a decline in hiring.