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
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. 
Stocks Surge on Wall Street Amid Slowing Labor Demand: Dow Gains 420 Points, Unemployment Ticks Up to 3.9%
Broke On: Friday, 03 May 2024Stocks rallied on Wall Street after disappointing jobs reports raised hopes for Fed rate cuts, with the Dow up 1.1% and S&P 500 and Nasdaq adding over 1%. Nonfarm payrolls increased by only 175,000 in April versus expectations of a 243,000 gain, while unemployment ticked up to 3.9%. Health care led job creation but gains were weaker than expected. Fed Chair Powell may consider rate cuts for labor market weakness or high inflation. Apple's $110B buyback boosted stocks. 
Fed Officials Express Doubt on Timeline for Interest Rate Cuts Amid Inflation Concerns
Broke On: Tuesday, 16 April 2024Federal Reserve Chair Jerome Powell and Vice Chair Philip Jefferson expressed doubts about the timeline for interest rate cuts this year due to lack of progress towards the 2% inflation target. Recent data shows solid economic growth, but inflation remains high at 3.5%. The Fed officials did not provide specific details on potential cuts, leaving markets questioning if even one or two reductions will occur before late summer. 
JPMorgan Chase CEO Warns of High Inflation and Interest Rates Due to Excessive Government Spending in the US
Broke On: Tuesday, 09 April 2024Jamie Dimon, the CEO of JPMorgan Chase, has cautioned that inflation and interest rates may remain high due to excessive government spending in the US. He also highlighted the need for more investment in green energy transition, global supply chain restructuring, military expenditure boosting and rising healthcare costs. Dimon's warning contradicts investors' hopes for a soft landing and suggests that inflation may be persistent and recession risks high. He also warned about global uncertainty caused by conflicts in Ukraine, Middle East, public investment for green transition and trade relationships.