Inflation warning, pandemic-level job cuts, new Diddy charges & more

CNN 5 Things

CNN

Daily News, News

4.3 • 1.2K Ratings

🗓️ 4 April 2025

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

We start with the Fed chair’s warning about President Donald Trump’s tariffs on inflation. The Secretary of State weighs in on Trump’s tariffs, a Ukraine peace deal and Myanmar earthquake recovery efforts. The federal government took mass layoffs to another level last month. We break down Sean “Diddy” Combs’ latest charges ahead of his trial next month. Plus, everything you need to know about the Women’s Final Four tonight. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:31.3	From CNN, I'm a phoma-DK, with the five things you need to know for Friday, April 4th.
0:38.6	Higher tariffs will be working their way through our economy and are likely to raise inflation
0:42.8	in coming quarters.
0:44.6	That's a warning from Federal Reserve Chair Jerome Powell, speaking at an event in Arlington, Virginia.
0:50.7	A 10% tariff on goods coming into the U.S. will go into effect tomorrow, with even higher tariffs slated for next Wednesday.
0:58.6	Powell says President Donald Trump's tariff package was significantly larger than the Fed expected.
1:03.4	But despite the uncertainty surrounding Trump's trade policy, Powell said the economy is still solid, and far from experiencing stagflation, the situation when
1:13.1	economic growth slows significantly at the same time as inflation heats up. The Fed chief said
1:18.9	the central bank's best move is to keep interest rates on hold for longer. Trump urged Powell to cut
1:24.3	rates, but the Fed chair said the central bank is in no rush to make any move.
1:29.2	So I don't think it's fair to say economies are crashing.
1:32.1	Markets are crashing because markets are based on the stock value of companies who today
1:36.2	are embedded in modes of production that are bad for the United States.
1:40.0	That's U.S. Secretary of State Marco Rubio talking to reporters at NATO headquarters in Brussels.
1:46.2	His comments come shortly after China announced it'll impose reciprocal 34% tariffs on all imports
1:52.5	from the U.S. starting next Thursday. The markets will adjust. Businesses around the world,
1:57.8	including in trade and global trade, they just need to know what the rules are.
	...

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