NPC past president Mark Hamrick, Washington Bureau Chief for Bankrate.com, shares tips for covering the economy
This week, the global economy has dominated headlines, causing a sense of whiplash for journalists and their audiences as they keep up with the latest on the Trump tariffs, looming trade wars, stock market ups and downs, and talks of recession.
The National Press Club Journalism Institute interviewed NPC member and past president Mark Hamrick to learn tips for journalists covering the global economy. Hamrick is senior economic analyst and Washington Bureau Chief at Bankrate.com, senior director at Red Ventures His advice was published in the Institute's daily newsletter for journalists, The Latest.
Institute: What tips do you have for journalists covering the US economy right now?
Hamrick: Choose your words carefully and work to get it right the first time. In our highly politically polarized environment, one must be extremely diligent to avoid embracing the words and alleged stated facts coming from elected officials. A good example in recent days has been falling back on words like “reciprocal tariffs” and “Liberation Day,” neither of which were true on the face of it. All of this isn’t new, but the velocity and volume of mis- and-disinformation is overwhelming.
The same was true during the previous administration when it fell back on false rhetoric like “price gouging” being responsible for inflation, reported as if it were fact. The actual causes for inflation — broadly speaking — are much more complex.
Recently, reporters who had the ability, if not the luxury, to dig in and look for the underlying stories, including the would-be formula used to calculate the since-paused tariffs, provided a great amount of context and value.
Avoid jargon. If you lose your readers and audience members by failing to use language they can understand, you’ve left them behind. Washington-based journalists are particularly at risk of using acronyms that don’t resonate or hold meaning for those outside the Beltway.
Connect the dots. This is a priority in my work and among my colleagues at Bankrate.com
At issue: How do developments and trends affect the finances of individuals and households? Why does it matter if the Federal Reserve makes an interest rate adjustment? It is our job to add context and to explain.
Institute: From DOGE laying off thousands of federal workers to the Trump tariffs, the US economy is in a vulnerable position. What advice do you have for localizing these big national stories?
Hamrick: Get out of the newsroom and talk to credible sources who have first-hand experiences with the issues at hand.
In the case of auto tariffs, for example, sources like dealers, auto company executives, and trade group representatives — as well as relevant elected officials — all provide valuable context. High-level observations can come from economists as well.
Ultimately, consumers also are key given that they have lived through the experience of supply chain disruptions, leading to shortages of autos and the resulting price increases. Plenty of folks have purchased cars at elevated prices in an environment where interest rates are higher than years ago, only making affordability challenges worse.
Institute: What are some resources for journalists to add context for reporting on Trump’s tariffs?
Hamrick: This is where building a bench of contacts comes in handy. The work is something that has to take place over the long term.
Organizations like SABEW, the Reynolds Center, the National Press Club, the Journalism Institute, Poynter Institute, and NEFE are among some of the non-government entities that come to mind.
Within government, the Federal Reserve Board, FRED (Federal Reserve Bank of St. Louis), the Labor Department, including BLS, and the Commerce Department including BEA, are some that come to mind.
To read the full interview, click here.
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