Earlier this month Facebook announced they would be adjusting their media and news strategy to give preference to reliable news sources. This has since resulted in fire from media moguls and another announcement from Facebook that they would be giving preference to local news sources.
Sara Fischer is the media reporter at Axios. She joins Cheddar to explain how local news sources have unique relationships with tech companies like Google and Facebook.
Fischer explains that if Facebook wants to drive community engagement, turning to local news could be the right move. Community engagement is going to be done by tapping into local stories and local topics.
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Fed Chair Jerome Powell's Jackson Hole speech on Friday is expected to align with market expectations of upcoming rate cuts, likely beginning in September.
