Must Read Money Stories for Tuesday, June 7 2016

by June 7, 2016

Must Read Money Stories

Don’t Panic.

The Chair of the Federal Reserve told an audience in Philadelphia yesterday to take a chill-pill about the latest monthly jobs report. You may recall the jobs report issued last week had some not-so-great news: the U.S. economy added only about 38,000 jobs in May. According to The Atlantic, Federal Reserve Chair Janet Yellen said in a speech that the report is “concerning,” but that we shouldn’t read too much into one month’s worth of data. The overall trend, she says, is a strengthening economy. And that means the Fed isn’t giving up on raising interest rates. Wall Street responded to the speech by sending stocks higher.

Adios ads.

In order to stay in business, Prevention magazine will no longer take money from advertisers. The New York Times reports on the decision to make the health magazine ad-free. Execs say the move will cut expenses by 50% at the magazine. Meanwhile, in other news of publications refusing ad revenue, Buzzfeed announced it won’t accept ads this year from the Republican Party. In an email, the CEO of Buzzfeed told employees GOP presidential nominee Donald Trump is “directly opposed to the freedom of our employees.”

Storytelling with stunts.

The internet was agog all day yesterday about a segment on Last Week Tonight with John Oliver in which the show bought, and then forgave, $15 million in medical debt. NPR’s Monkey See blog writes of how the show “uses stunts to tell stories.” The weekly show can’t keep up with the daily news cycle, so instead it uses entertaining gimmicks as a way to dive deep on entrenched, complicated issues. NPR doesn’t mention it, but the Last Week Tonight Segment was also a lot like when NPR’s Planet Money Team bought a “toxic asset” to help explain how that system works.

Stormy weather.

Florida is under a state of emergency as Tropical Storm Colin makes landfall. The Tampa Bay Times has live coverage. The storm is expected to bring lots of rain and high winds as it crosses from the Gulf to the Atlantic. Flooding is a possibility. Travel delays are likely.

Tropical Storm” by flickr user “1uk3” CC license CC by SA 2.0.