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CNN 5 Things

Consumer sentiment plummets, Witkoff-Putin meeting, Yoko Ono doco & more

CNN 5 Things

CNN

Daily News, News

4.31.2K Ratings

🗓️ 11 April 2025

⏱️ 6 minutes

🧾️ Download transcript

Summary

A new survey suggests American consumers are more pessimistic about the economy than during the Great Recession. Service sector jobs could become a casualty of the US-led trade war. US Foreign Envoy Steve Witkoff and Russian President Vladimir Putin are set to meet today. The US has removed the commander of its Greenland space base. Plus, Yoko Ono tells her side of The Beatles’ split. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

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0:31.3

Hi there. From CNN, I'm Erin Matheson, with the five things you need to know for Friday, April

0:36.7

11th.

0:38.3

American consumer sentiment has plummeted, lower than anything seen during the Great Recession.

0:44.3

That's according to a survey released by the University of Michigan today, which also marked it as the lowest reading since 1952.

0:51.3

The irony is that there were some encouraging inflation figures released today as well

0:55.7

from the producer price index. Here's CNN's Alicia Wallace to explain. Thanks, Aaron. So the March

1:01.9

inflation data both on the consumer and the producer's side showed that price pressures were

1:06.4

easing much more than expected. In any other time, this would be encouraging news. This would mean that

1:12.7

things were getting back to normal and that the Federal Reserve could return to its rate-cutting ways.

1:18.4

But the timeline we're in is not that. It's one instead filled with immense uncertainty due to how

1:25.6

Trump's policies, especially the massive and ever-changing

1:29.4

tariff regime, could affect the economy and the prices people pay.

1:34.9

American service sector jobs may become another casualty in the ongoing Trump-led trade war.

1:40.7

While Americans currently import more goods than we export, industries like restaurants, hotels,

1:45.4

and software development are all enjoying a trade surplus right now, to the tune of $293 billion.

1:52.5

But this could all disappear, with tariffs putting millions of service sector jobs at risk.

1:58.4

And if they're lost, experts say they could leave a dent that a spike in U.S.

...

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