00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Moody's chief economist Mark Zandi said Trump's immigration policies are contributing to higher
00:07unemployment among native-born Americans by reducing labor demand and shrinking the
00:13foreign-born workforce. Zandi told Fortune the economy is also facing supply shocks from tariffs
00:19and the Iran war, which are slowing growth and raising inflation. He said AI is the main reason
00:25the economy is not in worse shape. Zandi argued native-born workers are unlikely to replace
00:30immigrants in physically demanding jobs at current wages. The Labor Department has similarly warned
00:36that the immigration crackdown could worsen farm worker shortages and raise food prices.
00:41The White House says Trump's policies are boosting wages in sectors including construction,
00:47manufacturing and transportation. For all things money, visit Benzinga.com.
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