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!
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Tariffs and Inflation
- The Federal Reserve Chair warns that higher tariffs will likely increase inflation.
- Despite trade policy uncertainty, the US economy remains solid, avoiding stagflation.
Market Adjustment
- Secretary of State Marco Rubio suggests markets are reacting to outdated production modes.
- He states that businesses will adapt once trade rules are established.
Layoff Surge
- March 2024 had the third-highest layoff numbers since the start of the COVID-19 pandemic.
- Federal government layoffs were the primary driver, attributed to spending cuts.