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The set-piece speech by President Barack Obama at the Brandenberg Gate, where the Berlin Wall used to be, was Story of the Day. All three White House correspondents covered it but only NBC chose it as its lead, with Chuck Todd on Obama's proposal to Russia that both powers should reduce stockpiles of nuclear weapons by one third. CBS' Major Garrett filed only a brief stand-up, noting that nuclear cuts were opposed not only by the Kremlin, but by Republicans too. ABC's Jonathan Karl chose the angle that the President's speech capped a generally underwhelming trip to Europe. CBS and ABC, with substitute anchor George Stephanopoulos, led instead with Chairman Benjamin Bernanke of the Federal Reserve Board: ABC chose Bernanke's impact on the housing market; CBS his impact on the bond market's long-term interest rates.

The plutonium pollution left by the nuclear weapons arsenal that the President wants to cut happened to be the topic of a feature by Carter Evans on CBS. He traveled to the Hanford Reservation in Washington State, where its 177 underground storage tanks have been plagued by leaks since 2000. He pointed the finger of blame at the Department of Energy's contractor, Bechtel, for clean-up delays and cost overruns.

As for the Federal Reserve Board, CBS' Anthony Mason filed a brief summary on the improving macro-economy. ABC's Rebecca Jarvis had a lopsided view of residential real estate and the impact of rising 30-year home mortgage rates. Her emphasis was on inflation -- the prospect that higher rates translate into higher monthly payments for homebuyers. We have to wait until the end of her report to get the anti-inflationary alternative -- that higher borrowing costs may lead to lower selling prices to home purchasers.
Andrew Tyndall 6/21/13 4:57:37 pm

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