Joe Rennison,

Joe Rennison is a financial journalist with over a decade of experience covering financial markets. He currently reports for The New York Times, focusing on different financial markets from U.S. government bonds to global stocks, currencies and debt. Prior to joining The Times in 2022, Rennison worked at The Financial Times where he covered complex corners of markets such as structured bonds and interest rates. He holds a degree in philosophy, logic and scientific method from the London School of Economics and Political Science. Rennison is based in New York and lives in Brooklyn with his wife and two cats. He adheres to high ethical standards set by The Times, refraining from political donations, engaging with political discourse or accepting gifts from sources. Rennison can be contacted via email or through his LinkedIn profile.

Biography:  https://www.nytimes.com/by/joe-rennison

80%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermines the credibility of the source. It is calculated as:
Analysis.OverallConflictOfInterestScore * 0.3F + Analysis.OverallBiasScore * 0.3F + Analysis.DeceptivenessScore * 0.3F + Analysis.ReadabilityScore * 0.1F

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

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:

  • Negative interest rates
  • Virtualous cycle

Conflicts of Interest

75%

Examples:

  • The article implies that Japan’s economy has recently begun to show signs of stronger growth when in fact it has been growing steadily for several years now.
  • The title suggests that Japan raised interest rates for the first time since 2007 when it was actually only a few years ago.

Contradictions

85%

Examples:

  • Inflation and rising wages suggest that the country’s economy can grow without such aggressive stimulus from the central bank.
  • The Bank of Japan raised interest rates for the first time in 17 years on Tuesday, pushing them above zero to close a chapter in its aggressive effort to stimulate an economy that has long struggled to grow.
  • The Federal Reserve is expected to make rate cuts starting in September 2023 and continuing until July 2025.

Deceptions

77%

Examples:

  • The article claims 'investors have been buying stocks after homing in on signals that the Fed’s campaign of raising interest rates is over.' However, this statement contradicts itself as it implies that investors were previously not aware of these signals and therefore did not buy stocks beforehand. This is deceptive because readers may assume that there was a clear connection between the Fed’s decision to raise interest rates and the subsequent stock market rise.
  • The article quotes Tom Logue stating 'a bet that rates will come down in 2024 has given the S&P 500 its latest push,' but fails to provide any evidence or analysis of this claim. This is deceptive because readers may assume that there was a clear and logical connection between the Fed’s decision to cut interest rates and the stock market’s subsequent rise, when in reality it could have been due to various other factors such as inflation slowing down and consumer confidence increasing.
  • The article states 'the stock market broke through to new heights on Friday,' but fails to provide any context or explanation for why this happened. This is misleading because readers may assume that there was a significant event or development that caused the market to break through its previous peak, when in reality it could have been due to various factors such as inflation and shipping lanes attacks.

Recent Articles

Fed Rate Cuts Likely in September: Unemployment Ticks Up, Manufacturing and Services Activity Slows Down

Fed Rate Cuts Likely in September: Unemployment Ticks Up, Manufacturing and Services Activity Slows Down

Broke On: Friday, 05 July 2024 The Federal Reserve is expected to cut interest rates twice in 2023 due to weakening economic data, including a ticking unemployment rate and lower manufacturing and services activity surveys. Despite a strong labor market, the potential cuts could lead to new record highs for stock indexes.
Bank of Japan Ends Negative Rates Regime and Abolishes Yield Curve Control for Japanese Sovereign Bonds

Bank of Japan Ends Negative Rates Regime and Abolishes Yield Curve Control for Japanese Sovereign Bonds

Broke On: Tuesday, 19 March 2024 The Bank of Japan (BOJ) has ended its negative rates regime and abolished yield curve control for Japanese sovereign bonds. The BOJ raised short-term interest rates to around 0% to 0.1%, marking a historic shift in monetary policy that precedes the U.S Federal Reserve's interest rate decision later this week.
S&P 500 Reaches New Record High on Tech Stocks and Rate Cut Expectations

S&P 500 Reaches New Record High on Tech Stocks and Rate Cut Expectations

Broke On: Friday, 19 January 2024 The stock market reached a new record high on Friday, driven by surging tech stocks and expectations of Fed rate cuts this year. The S&P 500 index closed at an all-time high, with the information technology sector leading gains. Investors are optimistic that the central bank will balance inflation without causing a recession, as Treasury yields spiked to their highest level since mid-December. The Fed projected three rate cuts in 2024 and signaled it might be done raising rates if inflation falls further.