WASHINGTON, DC - APRIL 16: Rohan Goswami (Business Reporter - Semafor) speaks on stage during Semafor World Economy 2026 on April 16, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 16: Rohan Goswami (Business Reporter - Semafor) speaks on stage during Semafor World Economy 2026 on April 16, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 16: Liz Hoffman (Business & Finance Editor - Semafor) speaks on stage during Semafor World Economy 2026 on April 16, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 16: Luke Petherbridge (CEO - Link Logistics) speaks on stage during Semafor World Economy 2026 on April 16, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 16: Gary Cohn (Vice Chairman - IBM)speaks on stage during Semafor World Economy 2026 on April 16, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

WASHINGTON, DC - APRIL 16: Noubar Afeyan (Founder & CEO - Flagship Pioneering), Gary Cohn (Vice Chairman - IBM) and Liz Hoffman (Business & Finance Editor - Semafor) speak on stage during Semafor World Economy 2026 on April 16, 2026 in Washington, DC. (Photo by Tasos Katopodis/Getty Images for Semafor World Economy)

President of the German Bundesbank Joachim Nagel speaks during a press briefing during the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on April 16, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

German Finance Minister and Vice Chancellor Lars Klingbeil speaks during a press briefing during the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on April 16, 2026. (Photo by Kent Nishimura / AFP via Getty Images)