Part 2/7:

As Carney notes, the U.S. fertility rate has fallen below replacement level, with women now expected to have fewer than two children over their lifetimes. This trend is alarming, signaling a future of declining population and workforce shortages, which has already been observed in some Asian and European countries.

Carney explains a critical insight gained through research: many women who are now having fewer children are not merely delaying childbirth—they are also not making up the difference later in life. This shift signifies a fundamental change in the priorities of younger generations compared to those before them. Instead of placing a central focus on starting families, more individuals are investing time in careers and personal pursuits.