Critics worry that pessimistic news reports about the economy harm it by causing people to lose confidence in the economy, of which everyone has direct experience every day.
Statements
Causal Opinion (critics) pessimistic news reports about the economy harm the economy by causing people to lose confidence in it.
Causal Opinion (journalists) In order to do their job well, they can't worry about the effects.
Conditional Fact If it's not a matter of people don't defer which people have → to journalists no direct experience
We would want to clean up that double-negative in the trigger: it is a matter of not deferring which people have → to direct experience journalist
"Except" is like unless, without, until = "if-not"
Jerry hates musicals, except the ones Lin-Manuel makes. TRANSLATION musical and ~Lin-Manuel → Jerry hates
Evaluate
We have two opinions and one fact. The fact is the most trustworthy thing, and it's Conditional, so we should start there.
Can we apply this conditional to either of the first two sentences? Is there any overlapping information?
Yes, the first sentence and the conditional talk about whether or not someone has "direct experience" of something.
According to the first sentence, everyone has direct experience of the economy every day.
Thus, according to the rule in the third sentence, people would not defer to journalists when it comes to the economy.
Does that inference then take us any further with the Critics' or the Journalists' opinion?
It sounds like the journalists don't have to worry about the effect they're having on people when they write articles about the economy, since people don't defer to journalists on the economy.
And it seems like the critics have little to worry about when it comes to news reports harming the economy by causing people to lose confidence in it. Since people don't defer to journalists on matters of the economy, the news report has no power to change the confidence level that any given person has in the economy.
Goal
Look for an answer rewarding us for figuring out that or an answer that applies that to the critics to say .
But, as always, beware of strong language and unknown comparisons. And stay flexible.