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The Indicator from Planet Money

How the Ukraine crisis could affect your pocketbook

The Indicator from Planet Money

NPR

Business

4.79.2K Ratings

🗓️ 25 February 2022

⏱️ 8 minutes

🧾️ Download transcript

Summary

Russia's invasion of Ukraine has sent markets all over the world into a frenzy. Just how widespread could the economic fallout be?

Transcript

Click on a timestamp to play from that location

0:00.0

NPR.

0:11.8

This is the indicator from planning money, I'm Adrian Ma.

0:14.2

And I'm Paddy Hirsch.

0:15.7

Just how concerned are Americans about the war between Russia and Ukraine?

0:19.6

Just the day before Russia invaded, an associated press poll will find that fully 20% of Americans

0:24.8

think the US should not have any role at all in this situation.

0:28.7

And 52% think that if the US does play a role, it should be a minor one.

0:33.1

Which is kind of understandable, right?

0:34.7

Ukraine is on the other side of the world.

0:37.2

Neither Russia nor Ukraine is really like a vital US trading partner.

0:42.2

And a lot of things that we import from those countries like oil and wheat, the US can

0:46.8

actually easily produce itself.

0:49.8

So it might be tempting to think that because the US doesn't really rely on Russia or

0:55.6

Ukraine, their war won't have a huge consequence for us.

0:59.9

Yeah, Adrian, that would be a mistake.

1:02.4

The last year has shown us how inextricably interconnected the world has become, and

1:06.4

how events in one part of the world can affect all of us.

1:09.3

Yesterday you touched on some of the ways the war in Ukraine will affect the US economy.

1:12.9

Today we're going to take a closer look.

1:15.0

That's coming up after the break.

1:20.2

The most obvious way Russia's invasion of Ukraine might affect us is in the form of higher

1:24.2

energy prices, and particularly high gas prices.

...

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