NJ Gov. Murphy: 'I'm Worried' about Employment, History Points to Economy Slowing 'Substantially'

On Friday's broadcast of CNBC's "Squawk Box," New Jersey Gov. Phil Murphy (D) stated that he is concerned about the prospects for employment because there are no historical examples "where the Fed has been this aggressive and the economy didn't cool substantially." And he believes the economy will "cool" but not tank "in a very substantial way."