Could restrictive immigration policy lead to stagnating job growth?

Job growth in this current economy is … squishy, at the moment. Save for bright spots in health care and the restaurant industry, gains in the labor market are slowing, and unemployment rates are rising. In response to this overall cooling, the Federal Reserve cut interest rates on Wednesday in hopes of providing a lift to the job market — which it’s recognized is in a “curious balance.” But what if the tools in the Fed’s tool belt aren’t enough to boost the job market? That’s a concern shared by Harvard economist Jason Furman. He recently joined “Marketplace Morning Report” host David Brancaccio to discuss. The following is an edited transcript of their conversation.