an oldie but a goodie: cnbc incorrectly reported on march 11, 2022 that the nyfeds assets totaled $8m, which is a million times less than its actual holdings, which was really a staggering $8 trillion. steve liesman did not bother to correct this, nor did he say the word trillion.  some possible reasons for such an error, none of which are good: 1. cnbc is incompetent and they actually think the fed only holds $8m in assets 2. steve liesman is incompetent and thinks the fed only owns $8m in assets 3. the cnbc chart guy thought it was already in millions, lol 4. credible and reliable financial journalism has been dead for a long time 5. cnbc has an active interest in defrauding the public 6. the units were purposely omitted because the average public might wake up if the chart accurately said $8t, while paired with is the fed doing a shitty job? pic related my tv update amount to $6.5 trillion
United States