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Global News Podcast

As stock markets tumble again, Trump calls for a cut to interest rates

Global News Podcast

BBC

Society & Culture, Daily News, News, Documentary

4.27.8K Ratings

🗓️ 4 April 2025

⏱️ 32 minutes

🧾️ Download transcript

Summary

As stock markets tumble again, Trump calls for interest rate cut, but the head of the US central bank suggests otherwise. Also, fourteen Ukrainians die in a Russian missile attack, and the rat sniffing out landmines.

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to the Global News Podcast from the BBC World Service.

0:05.2

Hello, I'm Oliver Conway. This edition is published in the early hours of Saturday the 5th of April.

0:10.5

President Trump calls for a cut in interest rates, but the head of the US central bank suggests that

0:15.5

won't happen as trillions of dollars are wiped off global markets.

0:20.1

Ukraine says a Russian missile strike has killed 16 civilians in President Zelensky's home city.

0:26.0

And the best-selling video game Minecraft hits the cinema screens.

0:31.9

Also in the podcast, the Tanzanian diet that can boost the immune system...

0:36.9

In the morning for breakfast,

0:38.9

he used to have a millet porridge and sorghum porridge as well,

0:44.2

for lunch, a banana with beans.

0:47.6

And does a whiff of power surround the French president.

0:55.4

When he announced his new tariffs earlier this week, President Trump called it Liberation Day.

1:00.6

Critics said liquidation day would have been a better name,

1:04.1

and investors continued to dump stocks on Friday.

1:07.4

Some financial markets recorded their worst falls since COVID.

1:28.5

During the day, China announced it would match the 34% additional tariffs imposed by the US, sparking fears of a global trade war. Donald Trump said China played it wrong, they panicked, and he would never change his policies. But he did make a plea for the U.S. Central Bank to cut interest rates.

1:33.9

The response from Jerome Powell, chairman of the Federal Reserve, suggested that would not happen.

1:39.2

Tariffs are highly likely to generate at least a temporary rise in inflation. It's also possible that the effects could be more persistent. Our obligation is to keep longer-term inflation expectations well anchored

1:46.2

and to make certain that a one-time increase in the price level

1:49.5

does not become an ongoing inflation problem.

1:52.9

Jerome Powell talking to business journalists.

1:55.4

I asked our business correspondent Mark Ashtown

...

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