U.S. economic growth shrinks in first three months of 2022

The U.S. Department of Commerce revealed Thursday that the GDP fell in the first quarter for the first time since 2020. The U.S. Department of Labor also reported that initial jobless claims dropped last week. Lori Bettinger, the president of BancAlliance and former director of the Troubled Asset Relief Program, joins CBS News to about what these figures say about the current state of the economy.