Economy is actually still quite strong, but it is teetering i think is the way to think about it. a strong economy, teeter. we see a very strong labor market, but the labor market is clearly slowing. we re seeing hiring is roughly at the same strong pace it s been at. but what we re seeing when we dig deep in and look at say separations, people leaving jobs, the people leaving jobs have now been a little bit more likely to lose their jobs, to have been laid off rather than to have quit their jobs. people quit in the time of optimism, they lose their job in a time in which the economy is starting to pull back. so we do see some signs of tightening. but overall, you know, we saw gdp growth slow in the first quarter of the year. so there are signs of a slowing economy. but it s still an economy that s growing. betsey stevenson, thank you so much for your analysis. appreciate it.
Much, much worse, according to analysts, making it harder for you to make more money, to borrow more money, or even keep the money you have. tom foreman, cnn, washington. joining me now is betsy stevenson, a professor of public policy and economics at the university of michigan. she also served on president obama s council of economic advisers. thank you so much for being with us. it s great to talk with you again. so america is hurtling toward a possible economic catastrophe if republicans fail to lift the debt ceiling before the june 1 deadline. and now we wait to see what the federal reserve will do in the coming hours when it meets to decide whether to raise interest rates and by how much. what do you expect they will do, given the looming debt crisis? well, you know, i think that the fed not raising rates tomorrow will actually do very
Already made, and we haven t seen the full effect of the credit tightening that s coming out of the banking crisis. and so the fed could say look, we re going to pause now and just see what happens over the next month, and we re going to reassess in june. certainly a case can be made for that. it s not what i expect them to do. but i think that s the case to be made for it. i don t think that they want to signal that they re causing because congress is out of control and they don t know whether they re going to let the debt ceiling be breached. i don t think that s the business the fed wants to be in. that will feel like they re getting in the middle of a political battle. and betsey, how bad is the economy right now, given the looming crisis, high inflation, banking sector jitters, and rumors of a possible recession made all the more likely if america defaults on its debt come june 1st? well, i think the u.s.
A growing loneliness and isolation epidemic. dr. vivek murthy says about one in two adults in america report experiencing loneliness, adding that it s been a problem even before the covid-19 pandemic took its toll. he has released a framework outlining a new national strategy to tackle the issue. some of his recommendations include strengthening social infrastructure in communities through boosting public programs, adopting a pro connection public policies that focus on reducing disparities in connection, and increasing investment in educating health care providers about benefits of social connection. dr. julianne lund stand is a professor of ike. and neuroscience at brigham young university where she is also director of the neuroscience social lab. she joins us from salt lake city
Inflation. i want to put one little asterisk next to that, which is this week is probably a really bad week for a surprise. so even if they are going to eventually continue on their path of raising rates, they might slow a little or at least make sure there are no surprises in the very short run. you should think about this as rate rise is delayed rather than rate rise is denied. i think you are right there. we ve had our fair share of surprises the past few weeks. we can have some calm going forward for a little bit at least. betsy stevenson and justin wolfers thanks so much. great to see you. have you seen this? yes. this massive sea blob, the seaweed coming in, and this red tide. they re now creating this ecological beatdown for florida beaches. we ll take you there, next. yeah, loveseseats. something about loveseats make me e feel happy. kevin.?? i bought the team!m! cash brothers!s!