. >>> coming up today, the white house reacting to yesterday another hot inflation present, cecilia rouse will be here with her first take. >>> and cathy wood's ark innovation funds and we'll talk to simon barnett, who cathie wood herself called one of the most brilliant analysts in the healthcare space. >>> we'll begin with apple it's dragging down the whole nasdaq kristina partsinevelos has the latest >> let's start with the fact that maybe a 75 basis-point fed hike is back on the table given the inflation numbers for april. it's weighs on high growth stocks, which is what we're seeing here at the nasdaq, swinging into the red, led by apple, already apple trading below the mid march low. that would be something we haven't seen since mid november 2021 other big weights bringing down the nasdaq, microsoft as well as meta, but i want to focus on tesla for a second elon musk spoke yesterday at a "financial times" event and tried to convince everyone in the crowd the twitter deal would not sacrifice tesla's focus. the biggest on the nasdaq are lucid and zscaler and crowdstrike. and i end on

i turned to cecilia rouse on the economy as part of the infrastructure. we have a question from somebody who said it is a remarkable story, why it doesn't seem to be showing up in the polls or have a party, the republicans, still didn't hold it against what needed to happen to get emergency funding for baby formula and come back to this question of narrative and comparative. i want to come back to cecilia rouse on the care economy and take the first audience question, nice point of entry to give a sense of what you mean and how it is central. the question, the biggest cost on families including mine is childcare. it keeps getting worse and during the pandemic wheat and have childcare. what is president biden doing about childcare costs, a way to speak broadly about the issue of the care economy? >> appreciate the question and it does go to the heart of president biden's economic policy. president biden is focused on generating and promoting an economy that has sustainable growth it is widely shared. sounds like a platitude but i want to break it down, we

joining us is cecilia rouse, chair of the u.s. council of economic advisors. did you have the feldstein version? cecilia: i'm dating myself, i had the auto x -- the auto eckstein. tom: otto eckstein would say parse the data. what part of it is the focus of the president this morning? cecilia: the president is focused on the whole of it because he understands the cost of food and gas and the price of everyday items for the american family. he comes from a family where that would be meaningful if you had to pay more for a tank of gas, so he's focused on all of it. today he is going to lay out his plan for addressing price increases. of course, his economic advisor, i am focused on the part about core inflation which is not focused on gas and food. that tells us more about what the federal reserve can control as it tries to address inflation, and also the parts that are more enduring and that are more challenging to address. the president is focused on the whole of it because that is the reality for american families. jonathan: the whole of it is polished -- tom:

we'll talk to one of his top economic advisers cecilia rouse about what to expect. plus a disturbing new report about the growing mental health crisis among teens. and now how hospitals across the country are failing them. >> and this is been a growing problem. this is been a long investigation. and mika, it is something that we've heard from our friends that are -- that are doctors. >> we've seen it. >> that are doctors that are seeing that teens are being thrown into emergency rooms to sleep because there are no facilities, no beds to take care of them. >> we'll speak to the author of this remarkable year-long investigation. and the manhunt for an escaped inmate and the corrections officer who helped him escape comes to a violent end. it is one of the stories leading headlines across the country. morning joe will be right back. e our hair a lot my hair i curl it. i have to use a lot of heat new dove hair therapy shampoo & conditioner with ceramide & peptide. it nourishes at a cellular level to rescue damaged hair. discover 10 x stronger hair with new dove hair the

. >>> cecilia rouse is the chair of the white house council of economic advisors. she's also a professor of economics and public affairs at princeton university. cecilia, welcome back. let me start here with the meeting today. the president, first six words of his op-ed in the "wall street journal," i won't meddle with the fed. a year ago, said he's for fastidious about not talking to the fed chairman. does the president have a message for jerome powell today? why the meeting? >> so, it's not uncommon for presidents to meet with federal reserve chairs and given that chair powell was just reconfirmed along with three others, this seemed like an appropriate time to do so. importantly, the president -- the single message the president has for chair powell is that he's going to give them the space to do what they need to do. we all understand that the fed has a dual mandate to stabilize prices and maintain full employment. the president shares those goals, and he is -- what he said saying, which many prior presidents have not shares this view, he's going to let the fed

cecilia rouse the chair of the white house council of economic advisers noted the unemployment rate also remained at 3.6%. we've had strong job growth, but we won't continue to see that. we don't want to continue to see that route said that's because job and wage gains continue to fuel consumer spending, which keeps inflation high. >> in leads to more expensive loans for cars, mortgages and credit cards. that is the careful dance that we're trying to do here. we're trying to bring supply and demand into people every and in a way that doesn't result in a lot of losing their jobs. but tara sinclair, an economics professor at george washington university, said it's still too early to predict a recession. the best we can do right now is year's session once it's coming >> and clearly with over 400,000 new jobs created this month. that's not happening right now. >> and president biden also used today's trip to urge congress to pass a bipartisan bill that would boost manufacturing here in the u.s. he and many lawmakers believe that this is the next solution for a lot of the supply chain issues

cecilia rouse the chair of the white house council of economic advisers noted the unemployment rate also remained at 3.6%. we've had strong job growth, but we won't continue to see that. we don't want to continue to see that route said that's because job and wage gains continue to fuel consumer spending, which keeps inflation high. >> in leads to more expensive loans for cars, mortgages and credit cards. that is the careful dance that we're trying to do here. we're trying to bring supply and demand into people every and in a way that doesn't result in a lot of losing their jobs. but tara sinclair, an economics professor at george washington university, said it's still too early to

cecilia rouse the chair of the white house council of economic advisers noted the unemployment rate also remained at 3.6%. we've had strong job growth, but we won't continue to see that. we don't want to continue to see that route said that's because job and wage gains continue to fuel consumer spending, which keeps inflation high. >> in leads to more expensive loans for cars, mortgages and credit cards. that is the careful dance that we're trying to do here. we're trying to bring supply and demand into people every and in a way that doesn't result in a lot of losing their jobs. but tara sinclair, an economics professor at george washington university, said it's still too early to predict a recession. the best we can do right now is year's session once it's coming >> and clearly with over 400,000 new jobs created this month. that's not happening right now. >> and also used today's trip to urge congress to pass a bipartisan bill that would boost manufacturing here in the u.s. he and many democrats and republicans in congress. think this is the best solution moving forward to tackle some o

i know you were going to talk with cecilia rouse this morning. you are talking with heather boucher or jared bernstein, they know what is going on. as part of their job to project a better day that is coming, but i do think there is a sense of reality at the white house it is just difficult as they attempt to knock talked on the economy, it is difficult to get a sense of where we are going. they are still convinced that covid demand, the shift from services to goods, are the primary drivers of inflation, and the like to defer to the rest of the federal reserve. if you are janet yellen you pick your own spot here. lisa: there is also the issue of gas prices and the fact this administration has come under fire for not supporting the fossil fuels industry more and doing an about-face and saying, this is a national security crisis. is there any shift in the white house on that front or are they going to try to message it as being part of this equation as we transfer to a greener, fossil fuel-verrilli -- fossil fuel-free future. joe: we are going to h

. >> we have had members of the administration, i mentioned cecilia rouse, jared bernstein, they're available everywhere, but the polls show that despite the pr push, the american people are dissatisfied, only 14% say the economy is good or excellent. 46% say it's poor. if gas stays at $4.60, how much can a pr push accomplish? >> well, i think a pr push cannot accomplish all that much. i mean, it's important the administration get arguments out there and make sure people know that job growth has been steady and increasing and very good. it's important that the administration get all of the good news out there that is possible, but in the end, there is not a huge amount that an administration, any administration can do, and this is why i have been pushing a windfall profits tax, because, again, even if the conservatives in britain can pass a windfall profits tax, and oil companies especially, it seems to me it's egregious, it's outrageous, how much they are charging well over $4 a gallon while they are making record profits. i mean, an administration should be, and you know, it's easy to say t

cecilia rouse the chair of the white house council of economic advisers noted the unemployment rate also remained at 3.6%. we've had strong job growth, but we won't continue to see that. we don't want to continue to see that route said that's because job and wage gains continue to fuel consumer spending, which keeps inflation high. >> in leads to more expensive loans for cars, mortgages and credit cards. that is the careful dance that we're trying to do here. we're trying to bring supply and demand into people every and in a way that doesn't result in a lot of losing their jobs. but tara sinclair, an economics professor at george washington university, said it's still too early to predict a recession. the best we can do right now is year's session once it's coming >> and clearly with over 400,000 new jobs created this month. that's not happening right now. >> and president biden also used today's trip to push congress to pass a bipartisan bill to boost manufacturing in the u.s., particularly for products like semiconductor chips, that supply chain issues overseas in washington. i'm jessi

cecilia rouse the chair of the white house council of economic advisers noted the unemployment rate also remained at 3.6%. we've had strong job growth, but we won't continue to see that. we don't want to continue to see that route said that's because job and wage gains continue to fuel consumer spending, which keeps inflation high. >> in leads to more expensive loans for cars, mortgages and credit cards. that is the careful dance that we're trying to do here where we're trying to bring supply and demand into people every and in a way that doesn't result in a lot of losing their jobs. but tara sinclair, an economics professor at george washington university, said it's still too early to predict a recession. the best we can do right now is year's session once it's coming >> and clearly it with over 400,000 new jobs created this month. that's not happening right now. d president biden also used today's trip to push congress to pass a bipartisan bill to boost manufacturing in the u.s., particularly for products like semiconductor chips, that supply chain issues overseas in washington. i'm je

there was no sector that lost employment last cecilia rouse the chair of the white house council of economic advisers noted the unemployment rate also remained at 3.6%. we've had strong job growth, but we won't continue to see that. we don't want to continue to see that route said that's because job and wage gains continue to fuel consumer spending, which keeps inflation high. >> in leads to more expensive loans for cars, mortgages and credit cards. that is the careful dance that we're trying to do here. we're trying to bring supply and demand into people every and in a way that doesn't result in a lot of losing their jobs. but tara sinclair, an economics professor at george washington university, said it's still too early to predict a recession. the best we can do right now is year's session once it's coming >> and clearly with over 400,000 new jobs created this month. that's not happening right now. >> that was jessi tenure reporting. president biden also used his ohio trip to push congress to pass a bipartisan bill that would boost manufacturing in the u.s. particularly products like semi