Fox News Has Gone Quiet on the Economy. That’s Very Bad News For Your Wallet.

On Thursday, President  Donald Trump took the extraordinary step of delivering, from the Oval Office, his own version of economic data, just days after firing the top Bureau of Labor Statistics (BLS) official responsible for compiling the nation’s jobs and inflation numbers — a shocking move and true despotic red flag.

The spectacle wasn’t just political theater or a chance for Trump to do one of his favorite things: blame his predecessor. It was a clear signal of deep White House unease about the economic narrative swirling around the administration.

The signs pointing to a serious economic downturn are growing. But I would like to propose a new indicator, in this second Trump era: the volume of coverage on Fox News, Trump’s most loyal media ally.

Fox News, as has been documented extensively, has a tendency to hype Trump’s victories and ignore his failures. It applies, naturally, the reverse approach to Democrats. The formula is simple and works exceedingly well.

Let’s review how the network has approached covering the economy over the last year.

In the months leading up to the 2024 general election, Fox News hammered the economy and inflation, covering those issues relentlessly, especially in the final stretch of the Biden administration.

Drawing on data from TVEyes, a transcript search service, we see a striking pattern: mentions of “economy” and “inflation” peaked dramatically in the summer and fall of 2024. While this data doesn’t capture the full context of those mentions, it provides a clear barometer of how frequently these issues dominated the network’s coverage.

In August and September 2024 alone, Fox News mentioned “inflation” 1,275 times and “economy” 1,586 times—the highest recorded levels in our data. This relentless focus stoked voter concerns about the economy under the Biden administration that Trump and his allies skillfully leveraged. Inflation was the message, and Fox News was the megaphone.

Fast forward to today, and the message has changed. Despite stubbornly high inflation and bad economic indicators, Fox’s mentions of both terms have dropped precipitously. To be clear, the fundamentals remain unchanged, if not worse. Despite Trump’s insistence otherwise, key economic and inflationary indicators today remain remarkably similar to those from a year ago.

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) — a primary measure of inflation — increased by 3.2% over the past 12 months as of June 2025, closely mirroring the 3.0% annual inflation rate reported in June 2024. Meanwhile, wage growth has remained modest, and supply chain disruptions continue to exert upward pressure on prices.

In addition to headline inflation numbers, everyday essentials like eggs and gasoline continue to reflect persistent economic pressure. The average retail price for a dozen large eggs in the U.S. was around $3.50 in mid-2025, up roughly 15% from approximately $3.05 a year earlier, according to the U.S. Bureau of Labor Statistics and USDA data. Gasoline prices, which heavily influence household budgets, averaged about $3.60 per gallon in July 2025—nearly identical to the $3.55 per gallon price seen in July 2024, as reported by the U.S. Energy Information Administration.

These stable yet elevated prices for basic goods contribute to sustained financial strain on consumers, reinforcing the reality that, despite claims from the White House, inflationary pressures remain a significant challenge for households and highlight that economic realities faced by Americans today are essentially the same as a year ago.

When you add in the notable decrease in the value of the dollar, most Americans are poorer now than they were a year ago, which is neatly illustrated on X by famed investor Paul Graham.

Despite all of this, Fox’s inflation coverage is down nearly 50% from its peak a year ago; “economy” mentions have fallen roughly 40%. This isn’t a mere editorial blip; it’s a strategic retreat from the economic alarmism that fueled Trump’s political resurgence.

When the economy is mentioned, it is done with the kind of “dear leader” spin that would make even the most delusional despot blush. Fox Business anchor Charles Payne literally celebrated Trump’s 200 days in office this week with a segment intro that featured Kool & the Gang’s “Celebration.”

Why has the network gone quiet? What are the exact economic numbers? The answer lies in the administration’s own visible unease.

Trump’s Oval Office presentation wasn’t just a PR stunt — it was a defensive gambit to control the narrative amid rising skepticism of official government statistics. By firing the BLS statistician, the administration cast doubt on the reliability of economic data, signaling that the numbers weren’t working in their favor. This suggests a fear that sustained economic scrutiny, amplified by Fox News, could threaten political stability.

And Fox News, ever the willing partner, appears to have taken its cue. The network’s pullback mirrors the administration’s attempt to mute uncomfortable truths. This isn’t journalism serving the public interest; it’s media shaping perception to protect political fortunes. For viewers, that means a less informed conversation about the very economic issues that hit wallets hardest.

This shift matters. When Fox News lowers the volume on inflation and economic struggles, it’s not because those problems have magically disappeared. The Federal Reserve is still battling inflation. Supply chain issues linger. Americans face rising costs for essentials like housing, food, and gas. What changes is how much the public hears about these challenges—and when a dominant outlet steps back, urgency to address them wanes.

The facts are clear: Fox News’ earlier amplification of economic concerns helped fuel a political narrative focused on inflation and fiscal responsibility. Now, with the administration challenging official data and the network dialing back coverage, that watchdog role has been compromised.

That Fox News has effectively gone silent on economic anxieties suggest they are incapable of defending it, which is terrible and ominous news for anyone focused on the cost of living, their savings or IRA.

For everyday Americans, the lesson is stark: don’t mistake silence for improvement. The economy isn’t suddenly healthier because pundits aren’t talking about it. In fact, the opposite may be true. Economic pressures remain, and a key media pillar has stepped back just when scrutiny is needed most.

Keep an eye on two things in the months ahead: the data itself—and who is talking about it. When official numbers are questioned and the media chorus goes quiet, real problems often get swept under the rug — with your wallet on the line.

This is an opinion piece. The views expressed in this article are those of just the author.