good morning, aishah. we have not heard from the president in reaction to all of this. we expect to see him a few hours from now at 11:45 and should address this. the economy adding 253,000 jobs, way, way higher than expected. also the unemployment rate ticking down to 3.4%, lowest in 50 years. these are not good indicators for slowing the economy down. what the fed has been trying to achieve has not happened yet which means those rate hikes are possibly going to continue. that s really a pivot from what we heard from the fed yesterday indicating that they were likely to consider pausing the rate hikes. not going in the direction the president wants. and while congress is locking horns with the white house on talks to raise the debt limit, this is all the more striking. treasury secretary janet yellen warned the u.s. might not be able to pay its bills as soon as
rates, another 50 basis points or something like that. we are seeing people reduce lending a little bit. cut back a little bit. pull back a little bit. it won t necessarily forced recession, but it is recessionary. recession more likely because of this banking crisis from jamie diamond, not definitive, but another weight on the scale. interesting way of how he s looking at it. yeah every time now to talk about the monthly job numbers of monthly jobs report is in cnn s business correspondent phil solomon is here. good morning to you coming out of tme diamond. now what are you seeing? so this was a cooling job report but very much in line with expectations, so let s get to the number so we added 236,000 jobs in the month of march. the expectation was 200. 40 the unemployment rate ticking down from 3.6% to 3.5% guys, we re back at that fresh 50 year low for unemployment. we saw people come off the sidelines, so that s certainly wants to see that we want to see more workers entering the wo
wouldn t have been an issue because we were in the zero percent environment and one year went 4 and a half percent. so that s, i think, one of the other reasons the balance sheet basically went belly up. about apt good add anita: good advice for folks. we have 311,000 new jobs, down from january but but still it is interpreted as a strong report yet the unemployment rate ticking up a little bit to 3.6%. take us behind the numbers. are these good numbers for the president, can he hang his hat behind the numbers? we have to remember when he claims that he created jobs a lot of these jobs so far since the beginning of his administration are basically jobs that have come back after the pandemic. it s a little bit like stepping in a puddle of water, it ripples but ultimately comes back in. that s kind of the situation that we had here with those jobs and so i i question the way
things, electronics, appliances. some of those prices are falling. but in services, rent, airline fares, that has a way to go. he said 2023 will be a year of significant declines in inflation, but that it will take until 2024 before we likely get back to the fed s 2% target. no indication in these comments that they have any plans to change that 2% target. what about the state of the economy? he pointed to the red-hot labor market. he said the labor market is strong because the economy is strong. guys, this is the first time we re hearing from chairman powell after that blockbuster january jobs report. it showed that the u.s. economy added more than 500,000 jobs in the month of january. the unemployment rate ticking to a fresh 50-year low of 3.4%. it was shockingly high. it shocked many economists including powell. listen to what he said about that. we didn t expect it to be this strong. i would say it kind of shows you
it could be good news for democrat, or bad news. the last job report, is coming in a little bit better than expected. we had 261,000 jobs, in about 60,000 more than what most economists were predicting. still, it is a mixed bag with the unemployment rate ticking up. nbc news business data reporter barnett shang takes us inside of the numbers. it was a busy week in the economy has we got a number of data releases showing us a picture of where we stand ahead of the key term midterm election next. we ll start, wednesday with the federal reserve, the nation s economic steward, announced it would be raising interest rates by point 75 percentage points. that by the way is the six consecutive interest rate hike this year in the fourth of that size and magnitude. and all of this is to try to get ahead of inflation, the idea that if borrowing costs go higher, that will make the economic activity come down to