Pierre-Olivier Gourinchas, Director of IMF Research Department, speaks during an economic outlook briefing during the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on April 14, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

Farmers carry harvested wheat in a field on the outskirts of Varanasi on April 14, 2026. (Photo by Niharika KULKARNI / AFP via Getty Images)

Pierre-Olivier Gournichas, Director of IMF Research Department, speaks during an economic outlook briefing during the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on April 14, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

Pierre-Olivier Gournichas, Director of IMF Research Department, speaks during an economic outlook briefing during the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on April 14, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

(L/R) Pierre-Olivier Gourinchas, Director of IMF Research Department, and Petya Koeva Brooks, Deputy Director of IMF Research Department, arrive for an economic outlook briefing during the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on April 14, 2026. (Photo by Kent NISHIMURA / AFP via Getty Images)

France's Government Spokesperson and junior Minister for Energy and Digital economy Maud Bregeon delivers a speech during a session of questions to the government at the National Assembly, France's lower house of parliament, in Paris on April 14, 2026. (Photo by Alain JOCARD / AFP via Getty Images)

Pierre-Olivier Gourinchas, Director of IMF Research Department, speaks during an economic outlook briefing during the 2026 IMF and World Bank Group Spring Meetings in Washington, DC, on April 14, 2026. (Photo by Kent Nishimura / AFP via Getty Images)

A farmer transports wheat crops by tractor on the outskirts of Varanasi on April 14, 2026. (Photo by Niharika KULKARNI / AFP via Getty Images)