WASHINGTON, DC - APRIL 15: White House Office of Management and Budget Director Russell Vought arrives for a House Budget Committee hearing at the U.S. Capitol on April 15, 2026 in Washington, DC. Vought is testifying on President Trump's FY2027 budget request. (Photo by Andrew Harnik/Getty Images)

WASHINGTON, DC - APRIL 15: Deko (Hisayuki) Idekoba (CEO and President of Indeed & Representative Director, President & CEO of Recruit Holdings - Indeed) speaks on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 15: (L-R) Deko (Hisayuki) Idekoba (CEO and President of Indeed & Representative Director, President & CEO of Recruit Holdings - Indeed) and Clay Chandler (Managing Editor, Live Journalism - Semafor) speak on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 15: (L-R) Deko (Hisayuki) Idekoba (CEO and President of Indeed & Representative Director, President & CEO of Recruit Holdings - Indeed) and Clay Chandler (Managing Editor, Live Journalism - Semafor) speak on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 15: (L-R) Deko (Hisayuki) Idekoba (CEO and President of Indeed & Representative Director, President & CEO of Recruit Holdings - Indeed) and Clay Chandler (Managing Editor, Live Journalism - Semafor) speak on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 15: (L-R) Franz Paasche (Executive Vice President, Corporate Affairs - Verizon) and Justin Smith (Co-Founder & CEO - Semafor) speak on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 15: Franz Paasche (Executive Vice President, Corporate Affairs - Verizon) speaks on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 15: Franz Paasche (Executive Vice President, Corporate Affairs - Verizon) speaks on stage during Semafor World Economy 2026 on April 15, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)