Companies like Meta and Twitter have said that they will be cutting jobs. Google and Amazon have announced that they are putting a freeze on any new hiring.

Are tech layoffs a sign of things to come across other sectors? Is this the opening bell for the bad news on the economy that many have been bracing for?

Guest: Jeanna Smialek, a correspondent covering the Federal Reserve and economy for The New York Times.

Background reading:

• President Biden is celebrating a jobs engine that is running hot; Federal Reserve officials want to see more signs of slowing growth amid their campaign to tame inflation.

For more information on today’s episode, visit

nytimes.com/thedaily

. Transcripts of each episode will be made available by the next workday.



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