CNN 5 Things
Inflation warning, pandemic-level job cuts, new Diddy charges & more
Apr 4, 2025
The Fed chair raises alarms about inflation linked to Trump's tariffs. A deep dive into rising mass layoffs paints a grim economic picture. Legal trouble brews for Sean “Diddy” Combs just before his trial. Meanwhile, there's crucial news on the ongoing Ukraine situation and earthquake recovery in Myanmar. Plus, get the latest buzz on the Women's Final Four and what to watch for later tonight!
06:14
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Quick takeaways
- Federal Reserve Chair Jerome Powell warned that upcoming tariffs may fuel inflation, despite affirming the economy's current resilience.
- The podcast highlights ongoing ethical concerns surrounding residential surveillance technology, emphasizing the dilemmas of privacy versus security in communities.
Deep dives
Impact of Tariffs on the Economy
Higher tariffs on imports are expected to significantly affect the U.S. economy, potentially increasing inflation in the coming quarters. Federal Reserve Chair Jerome Powell indicated that a 10% tariff will take effect soon, with even steeper tariffs expected shortly after. Despite the implications of the tariff package introduced by President Trump, Powell reassured that the overall economy remains strong and has not entered a phase of stagflation. He also emphasized the importance of maintaining interest rates rather than rushing to change them, suggesting that stability is preferable during this period of uncertainty.
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