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May 3, 2023 Fed Chair Jerome Powell’s Press Conference: " Reducing inflation is likely to require a period of below-trend growth and some softening of labor market conditions"
"We remain committed to bringing inflation back down to our 2 percent goal and to keep longer-term inflation expectations well anchored. Reducing inflation is likely to require a period of below-trend growth and some softening of labor market conditions. Restoring price stability is essential to set the stage for achieving maximum employment and stable prices over the longer run..." "To conclude, we understand that our actions affect communities, families, and businesses across the country. Everything we do is in service to our public mission. We at the Fed will do everything we can to achieve our maximum employment and price stability goals." more »
Selective Exposure and Partisan Echo Chambers in Television News Consumption: Innovative Use of Data Yields Unprecedented Insights
“Concerns about partisan media’s potential to polarize the public cannot be easily dismissed,” researchers and authors Broockman and Kalla conclude in this new study. The research underscores “the need for policymakers and civil society leaders to continue to consider how the influence of partisan media on public opinion might be countered as part of a broader suite of potential interventions to strengthen American democracy.” more »
Jo Freeman Reviews: When the News Broke: Chicago 1968 and the Polarizing of America
Jo Freeman Reviews: "In 1968, change was happening all over the world. In the US, mounting opposition to the war in Viet Nam and several burgeoning social movements all demanded attention. People representing many of these came to the 1968 Democratic Convention in Chicago in hopes of reaching the larger public with their message. Heather Hendershot writes about the news media – especially the three network TV companies – at the 1968 Democratic Convention in Chicago. What would the news networks cover?" more »
Gender Wage Gap Widens Even as Low-wage Workers See Strong Gains Women Are Paid Roughly 22% Less Than Men on Average
"These pay gaps are even larger when examining average hourly wages for all workers instead of just the average for middle-wage workers because of the disproportionate share of highly paid workers who are white men, which pulls up their average. Using the average measure, Black and Hispanic women are paid 61.4% and 57.8%, respectively, of white men’s wages, an hourly wage gap of $15.11 for Black women and $16.40 for Hispanic women. Even in a regression framework—controlling for age, education, and geographic division—Black and Hispanic women are both paid about 67% of white men’s wages." more »