Recession for the average person, Happy Cinco de Mayo: 5 Things podcast

On today’s episode of the 5 Things podcast: What would a recession mean for the average person?

The odds of one are rising, as money reporter Elisabeth Buchwald explains. Plus, Russia targets western weapons in Ukraine, it’s a day of awareness for missing or murdered Indigenous women, wellness reporter Jenna Ryu talks about ‘hoovering’ exes and it’s Cinco de Mayo!

Podcasts:True crime, in-depth interviews and more USA TODAY podcasts right here.

Hit play on the player above to hear the podcast and follow along with the transcript below. This transcript was automatically generated, and then edited for clarity in its current form. There may be some differences between the audio and the text.

Taylor Wilson:

Good morning. I’m Taylor Wilson and this is 5 Things you need to know Thursday, the 5th of May 2022. Today, a look at the possibility of recession, plus awareness for missing or murdered indigenous women, and more.

Here are some of the top headlines:

  1. The authoritarian leader of Belarus defended Russia’s invasion of Ukraine and said he was doing everything to stop the war. President Alexander Lukashenko sat down with the Associated Press earlier today.
  2. The US embassy in Havana has resumed processing visas for Cubans on a limited basis. It comes more than four years after stopping consular services on the island during hardened relations.
  3. The Seattle Sounders are Concacaf Champions. The Sounders became the first major league soccer team ever to win the North American Champions League. It was the first time in the competition’s 14-year history that the winning club did not come from Mexico.

Recession. It’s a scary word for many. While officials like the Fed chair Jerome Powell have tried to calm the public with recent comments, more and more Americans are wondering what an incoming recession could look like. Producer PJ Elliott checked in with money reporter Elisabeth Buchwald to find out more.

Elisabeth Buchwald:

No one really knows for certain how close we are to a recession because it’s incredibly hard to predict, and oftentimes we don’t know we’re in a recession until we’re actually in one. So that could be the case right now, but now economists are saying we’re probably not in one right now. But we’re looking at one potentially in a year from now. Although it really depends which economist you ask.

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