alan krueger from princeton and michael mckee in washington.is making headlines outside of the world of business. emma chandra is here. >> thank you. china is ready to retaliate if the u.s. goes ahead with tariffs on chinese products. beijing plans to lead the tariffs from 5% to 25% on about $50 billion worth of u.s. imports. china is trying to keep trade friction from escalating. singapore for in a regional summit that will spotlight challenges involving north korea and iran. the u.s. must keep pressure on both. north korea has been attending these meetings sense 2000. they will join a special prominence this year following the summit with trump in june. aere ran just signed friendship pact. enter reason he takes another step to get a brexit deal. she needs with french president and metal macron at his vacation home. u.k. officials say they are working on a new proposal. i'm emma chandra. julie: thank you. just wanted to recap the jobs' numbers. more than 160,000 jobs added last month. below the 190,000 consensus, but we had an upward revision

alan krueger, the nheim professor of consumer affairs area -- affairs. since 1987, he has held a joint appointment in the economics department and at the woodrow wilson school at houston university. he is the founding director of the princeton university research center and he served as chairman of president barack obama's cancel of economic advisors, assistant secretary for economic policy, and chief economist of the u.s. to vermin of treasury, chief economist at the u.s. department of labor and he was vice president of the american economic association just last year. please welcome dr. kruger. [applause] >> thank you. i'm glad you invited me rather than a robot to give my presentation today. we are meeting at a time when the unemployment rate is at 4%, economic growth for the second quarter looks like it could be around 4%, yet there are many reasons to be concerned about the state of the job market. low,growth remains too wage growth is barely keeping up with inflation, labor force participation is too low, the u.s. has the second lowest labor force

we are also privileged now today to be joined by doctor alan krueger, the ben chaim professor of economics public affairs. his published widely on the economics of education, unemployment, labor demand, income distribution, social insurance, labor market regulation, even terrorism and environmental economics. since 1987 he has held a joint appointment in the economics department at the woodrow wilson school at princeton university. he is the founding director of the princeton university survey research center. in addition, he previously served as chairman of president barack obama's council of economic advisers. assistant secretary for economic policy and chief economist of the u.s. department of the treasury, chief economist of the u.s. department of labor, and vice president of the american economic association just last year. please welcome doctor krueger. [applause] >> thank you very much. glad you invited me à [inaudible] we are meeting at a time when the unemployment rate is down four percent, economic growth for the second quarter looks like it could be around four percent. there ar

alan krueger says the opioid prescription that account for .6% of the decline in the labor force participation very judgmental affect to the overall economy. the fda wants to implement a focused approach to pain medication. jenny now is scott gottlieb. thank you -- joining me now is scott gottlieb. they key for joining me. talk to me about this new guidance. scott: what we announced this week is is a series of new guidance talks we are going to be issuing a rethink is going to lay out a more efficient pathway project developers to bring medications to market that treat pain. previously we had guidance laid out in a document that we issued in 2014. that document is outdated and laid out a pathway to markets that we think was too burdensome and it discouraged investment. these new guidance documents, the goal is to be more focused and allow the developers to develop drugs for specific kinds of pain. also allow them to seek indications -- if you can demonstrate that your pain drug conspiracy use of opioids, you can get -- on the basis of the claim. alix: opioid use might be slowing but the drugs

. >> but did it play into freddy krueger's -- the guy at princeton. or did it play -- >> alan. my guess is he's on vacation up in the cape. >> what should it play into in there's more slack or not? >> i'm trying to think of which economist had the more slack idea i was always a little optimistic by the way, it plays more into the fed's idea i know you criticize them, but nobody has been more willing to let the economy run than the bernanke, yellen, and powell the sense i get from them is they want people to go back to work and they see huge downside for people being out of work and putting them back to work is a good thing that echoes into future generations and future years for potential growth of the economy. >> i just wanted to jump in on that so in terms of the slack, you know, i know economists are dismal, but one thing we're seeing is those people of prime age are starting to come back. and that's a positive. >> and that's part of the 2 million. and look at -- never mind. >> there but for the grace of god is you if you're not already there. >> there are people who are 65