Alicia Wallace
Alicia Wallace is a senior writer for CNN Business covering the economy and topics such as cannabis. Based in the Bay Area, she specializes in writing economy feature articles that blend data and the human experience. Her coverage also includes articles on bigger-picture developments in the emerging cannabis industry. Before joining CNN, Wallace was a Knight-Bagehot Fellow at Columbia University in New York for the 2018-19 academic year. She has won gold (2013) and silver (2018) awards from the National Association Real Estate Editors association and was selected for the Donald W. Reynolds National Center for Business Journalism Strictly Financial Fellowship (2011). Wallace received a B.S. Journalism: News-Editorial with honors from the University of Colorado-Boulder.
Biography:
https://www.cnn.com/profiles/alicia-wallace
74%
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
86%
Examples:
- The uptick in the inflation rate supports the Federal Reserve's go-slow approach in cutting interest rates.
- The U.S. Consumer Price Index (CPI) rose faster than expected in February, but there's good news at the grocery store.
Conflicts of Interest
62%
Examples:
- The fact that the unemployment rate has been below 4% for 24 months straight for the first time since 1967 is truly remarkable.
Contradictions
88%
Examples:
- Real average weekly earnings have fallen almost 5% over Mr. Biden's presidency.
- The U.S. Consumer Price Index (CPI) rose faster than expected in February, but the year-over-year pace up to 3.2% versus estimates for 3.1%. The core rate, which strips out food and energy costs, also disappointed to the upside at 3.8%, against expectations of 3.7%.
Deceptions
70%
Examples:
- The article states that inflation slowed in key areas like food and housing but fails to mention that the overall rate of inflation for the year ended February was still higher than expected. This is an example of deceptive reporting by omission.
Recent Articles
June Consumer Prices Decrease for First Time Since Pandemic: What it Means for Inflation and Interest Rates
Broke On: Thursday, 11 July 2024Federal Reserve officials received good news in June as consumer prices decreased for the first time since the pandemic, with a monthly drop of 0.1% and an annual rate of 3%. Falling gas prices and declining new and used car prices were the primary contributors to this decrease. The core CPI also slowed down more than expected, leading to expectations of potential interest rate cuts in September and December. Investors reacted positively, with the Russell 2000 Index gaining 3%, while housing-related shares such as Home Depot and D.R. Horton experienced a surge on hopes of lower rates reigniting the stalling housing market. 
June Jobs Report: 190,000 New Hires Expected as Labor Market Slows Down Amid Inflation and Interest Rate Concerns
Broke On: Friday, 05 July 2024The June jobs report, expected to show a decrease in hiring with approximately 190,000 new jobs added, signals labor market normalization as inflation cools and interest rates remain high. Despite low unemployment and optimism about its strength, concerns arise due to high inflation and ongoing rate hikes. Hiring rate has slowed significantly while layoff activity increases; first-time unemployment claims reached 238,000 last week. 
US Jobs Data Surprises with 8.14 Million Openings Amid Global Equities Record Highs and Cautious Optimism
Broke On: Tuesday, 02 July 2024Record-breaking global equities reach all-time highs ahead of US jobs data release, with the Labour Party's victory in UK elections boosting the pound and fueling investor optimism. The Federal Reserve's anticipated interest rate cut adds to market confidence, while unexpected job growth in the US manufacturing and government sectors signals a strong labor market. However, concerns persist over record-breaking rallies in certain markets, such as China's central bank selling government bonds to control volatility. 
US Stock Market Dips Amid Decrease in Inflation: What Does It Mean for the Federal Reserve and Investors?
Broke On: Friday, 28 June 2024US stock market indices like the Dow, S&P 500 and Nasdaq 100 remained stable while treasury yields increased due to a slowdown in inflation. This has led some economists to speculate that the Federal Reserve may reconsider interest rate hikes, potentially boosting investor confidence. 
US Consumer Confidence Dips in June: Americans' Pessimistic Short-Term Expectations Impact Current Business Conditions
Broke On: Tuesday, 25 June 2024US consumer confidence decreased in June, with the expectations index falling below 80 for the fifth consecutive month, indicating potential recession concerns. The Conference Board's Consumer Confidence Index dropped to 100.4 from May's revised level of 101.3, as Americans expressed negative short-term expectations for income, business, and labor market conditions. 
Strong Job Growth of 272,000 in May 2024: A Robust Labor Market or Inflationary Pressure?
Broke On: Friday, 07 June 2024In May 2024, the US economy added a surprising 272,000 jobs, exceeding expectations and marking a significant increase from the previous average. The service sector drove most of the growth with gains in health care and social assistance and professional services. However, conflicting signals emerged from labor market data with an increase in unemployment rate to 4.1%. Average hourly earnings rose by 0.4%, but could contribute to inflationary pressures and impact Fed interest rate decisions. 
Anticipated May Jobs Report: Expected Addition of 185,000 Jobs and Unemployment Rate at 3.9% - Implications for the Economy and Interest Rates
Broke On: Thursday, 06 June 2024Anticipated May jobs report may reveal insights into labor market's current state, with an expected addition of around 185,000 jobs and a 3.9% unemployment rate. Diverging predictions on implications for economy and interest rates. 
Ford Revitalizes Detroit's Iconic Michigan Central Station into Tech Campus and Mixed-Use Property
Broke On: Monday, 03 June 2024Ford Motor Company is revitalizing Detroit's iconic Michigan Central Station, a once-dormant 18-story train station, into a new technology campus and mixed-use property. The $950 million project includes restoration of the historic site, which has been in decay for over three decades. Ford Chair Bill Ford believes investing in this symbol of Detroit's past is crucial for talent acquisition and retention. Extensive renovations involve 3D-scanning, historical photo referencing, and sourcing original limestone to preserve history while bringing it into the modern era. 
Record-Breaking Stock Market Surge: Inflation Eases, CPI Slows Down to 3.6% in May 2024
Broke On: Wednesday, 15 May 2024Major stock indexes hit record highs in May 2024 due to encouraging inflation data. Grocery prices fell for the first time in a year, while core CPI slowed down to 3.6%. The Federal Reserve may consider cutting interest rates if inflation continues to decrease, leading to investor optimism. Record-Breaking Stock Market Surge: Inflation Eases, CPI Slows Down to 3.6% in May 2024
Broke On: Wednesday, 15 May 2024Major stock indexes hit record highs in May 2024 due to encouraging inflation data. Grocery prices fell for the first time in a year, while core CPI slowed down to 3.6%. The Federal Reserve may consider cutting interest rates if inflation continues to decrease, leading to investor optimism.