Jeanna Smialek
Jeanna Smialek is a reporter covering the Federal Reserve and the U.S. economy for The New York Times. She has covered the economy for more than a decade, writing about various topics such as inflation, job market trends, and inequality. Smialek has contributed to Marketplace radio and is the author of a book about the changing role of the modern Fed: “Limitless: The Federal Reserve Takes on A New Age of Crisis.” She has a bachelor's in journalism and global studies from the University of North Carolina at Chapel Hill and a Master's in Business Administration from New York University's Stern School. Smialek is known for her commitment to upholding high journalistic standards, particularly when reporting on events that can move financial markets. She does not actively trade investments of any kind and keeps her retirement savings in broad funds.
Biography:
https://www.nytimes.com/by/jeanna-smialek
88%
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
91%
Examples:
- The author frequently reports on the impact of inflation and its effects on the economy, which may contribute to a narrative that prioritizes controlling inflation over other economic goals.
- The author has a tendency to present the Federal Reserve's decisions and actions in a critical light, often highlighting potential negative consequences of their policies.
Conflicts of Interest
96%
Examples:
- The author has a clear understanding of the potential conflicts of interest that can arise in the financial industry and reports on them accurately.
- There are no instances of the author having a personal conflict of interest, but their reporting on the Federal Reserve may be perceived as conflicting with the interests of certain groups, such as those advocating for more accommodative monetary policies.
Contradictions
89%
Examples:
- In several articles, the author reports conflicting signals from Fed officials about when and how they might adjust interest rates, suggesting uncertainty in the central bank's decision-making process.
- There are instances where the author reports both an increase and a decrease in interest rates within a short period, which may confuse readers.
Deceptions
81%
Examples:
- In some instances, the author presents selective information or takes quotes out of context to create a particular narrative about the Fed's actions and intentions.
- The author occasionally uses misleading or ambiguous language that can potentially deceive readers.
Recent Articles
Fed Officials Hint at Possible Interest Rate Cuts Amid Cooling Inflation
Broke On: Monday, 15 July 2024Federal Reserve officials, including Christopher Waller and Jerome Powell, have hinted at potential interest rate cuts due to cooling inflation. Waller believes data supports a soft landing for the economy and sees a higher probability of moderate inflation and employment growth. Unnamed Fed officials also signaled cuts are getting closer, but Powell has been cautious about indicating an exact timing. 
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. Fed Expected to Leave Interest Rates Unchanged: A Boon for Savers Amidst Economic Uncertainties
Broke On: Wednesday, 12 June 2024The Federal Reserve is expected to leave interest rates unchanged at their meeting this week, with investors anticipating reductions later in the year. Elevated interest rates have benefited short-term savers, offering top yields on savings accounts and CDs. However, central bankers remain uncertain about inflation and the economy's future direction. 
Federal Reserve Holds Rates Steady, Projects Fewer Cuts in 2024 Amid Persistent Inflation
Broke On: Wednesday, 12 June 2024The Federal Reserve kept interest rates unchanged and projected fewer cuts for 2024, despite easing inflation in May. Chair Jerome Powell emphasized the need for caution to maintain progress towards the 2% inflation target, with persistent issues in housing and ongoing high benchmark rates at 5.3%. The Fed raised its long-term rate forecasts to 2.8%, suggesting a shift from previous expectations. 
Federal Reserve's Inflation Concerns Trigger Stock Market Decline: May 2024 Minutes Reveal Uncertainty and Wary Attitudes Towards Interest Rates
Broke On: Wednesday, 22 May 2024Federal Reserve's inflation concerns led to a stock market decline on May 22, 2024. Minutes from the Fed's May meeting revealed officials' uncertainty about current interest rates and lack of progress on inflation, causing all three major indexes to drop. 
Parents Struggle Most with Finances Amidst Persisting Inflation: New Fed Report
Broke On: Sunday, 19 May 2024Despite inflation dropping to 3.4% in 2023, the Federal Reserve's report revealed that Americans are experiencing financial strain, particularly parents and renters. Only 64% of parents reported feeling financially okay compared to 69% in the previous year, while rent arrears increased by two percentage points for renters. Inflation concerns have also led to a six-month low in consumer sentiment. 
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 Holds Off on Interest Rate Cuts Amidst Inflation Resurgence and Cooling Economy
Broke On: Tuesday, 30 April 2024Federal Reserve puts interest rate cuts on hold due to inflation resurgence and cooling economy. Jerome Powell emphasizes need for consistent positive economic signs before considering cuts, predicting only two in 2024. 
Federal Reserve Holds Off on Lowering Benchmark Rate Amid Inflation Concerns
Broke On: Thursday, 11 April 2024The Federal Reserve is not planning to lower its benchmark rate as earlier expected due to stubbornly high inflation. The Fed has not cut rates since 2019, but some analysts predict a move in coming months to combat slowing economic growth. Fed Chair Powell Calls for More Evidence of Inflation Easing Before Rate Cuts
Broke On: Wednesday, 03 April 2024Federal Reserve Chair Jerome Powell spoke to the Stanford Business, Government and Society forum on Wednesday. He emphasized that more evidence is needed before cutting interest rates, despite indicating earlier this year that lowering them was likely. The Fed held interest rates steady in its last meeting but has not ruled out rate cuts later this year. Inflation has cooled significantly in recent months and the labor market remains resilient, leading some to question whether rate cuts are necessary at all.