WASHINGTON, DC - APRIL 13: Liz Hoffman (Business & Finance Editor - Semafor) speak on stage during Semafor World Economy 2026 on April speaks on stage during Semafor World Economy 2026 on April 13, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

Banners decorate the International Monetary Fund (IMF) headquarters building during the first day of the 2026 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, on April 13, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

People gather in the atrium of the International Monetary Fund (IMF) headquarters building during the first day of the 2026 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, on April 13, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

People gather in the atrium of the International Monetary Fund (IMF) building during the first day of the 2026 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, on April 13, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

Kunal Kapoor, CEO of Morningstar, speaks during the Semafor World Economy 2026 conference in Washington, DC, on April 13, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

Banners decorate the International Monetary Fund (IMF) headquarters building during the first day of the 2026 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, on April 13, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

Kunal Kapoor, CEO of Morningstar, speaks during the Semafor World Economy 2026 conference in Washington, DC, on April 13, 2026. (Photo by SAUL LOEB / AFP via Getty Images)

The stage in the atrium of the International Monetary Fund (IMF) headquarters is seen during the first day of the 2026 Spring Meetings of the IMF and the World Bank Group (WBG) in Washington, DC, on April 13, 2026. (Photo by Kent Nishimura / AFP via Getty Images)