Pink's Bottom Line on Media, Money and Sports
Google and political ads, the Fed and inflation and the NFL Draft
In today’s newsletter, I discuss Google’s move to allow political advertising again, Federal Reserve Chairman Jerome Powell’s testimony tomorrow and an intriguing NFL Draft prospect.
MEDIA: Google and Political Ads
Axios is reporting that Google will again allow political ads on its platform after it stopped that kind of advertising last month following the January 6 insurrection in Washington.
According to Axios, Google will again accept political advertising beginning this Wednesday.
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Google — as well as Facebook — both stopped accepting political ads on their platforms at various times leading up to and after last year’s election.
As political advertising can be a significant driver of revenue for both Google and Facebook, the resumption of it on Google certainly is worth noting.
Expect, though, that Google will again make a move to pull political advertising quickly if any of these ads again appear to lead to misinformation or other social issues.
MONEY: Fed Chair Testimony
Most expect Powell to reiterate the Fed’s accommodative monetary policy that’s been implemented during the pandemic.
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Importantly, expect Powell’s testimony also to address potential concerns about inflation and its impact on the nation’s economy.
As bond yields have climbed recently, some in the markets expect inflation soon to move noticeably higher, which could have negative implications for the economy.
If the coronavirus pandemic gets under control sooner than most expect and if the government’s $1.9 trillion stimulus package is also approved and implemented, that could potentially create an overheated economy, which many fear could lead to an inflationary environment.
SPORTS: NFL Draft
With the NFL Draft beginning about two months from now, teams are evaluating key prospects, including quarterbacks.
Clemson quarterback Trevor Lawrence will almost undoubtedly be the first pick in this year’s draft and expectations are that as many as three other quarterbacks — Ohio State’s Justin Fields, Brigham Young’s Zach Wilson and North Dakota State’s Trey Lance — could be chosen in the first ten picks.
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However, it’s another quarterback that I find the most intriguing, and that’s Alabama’s Mac Jones.
Jones led the Crimson Tide to a national title this year, and he threw 41 touchdown passes with only four interceptions this season.
Jones also completed 77% of his passes this year, and he has proven to be a very accurate passer, perhaps one of the important traits for any professional quarterback.
As such, I expect Jones to creep up the draft boards this April, and I suspect that he will also become a top ten pick when all is said and done.
Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.
(Newsletter Editor: Karina Pink)