Oct 9, 2018

IMF drops global growth forecast due to trade tensions

IMF Director Christine Lagarde. Photo: Mahendra Moonstar/Anadolu Agency via Getty Images

The International Monetary Fund's projection for global economic growth in 2018–19 has been revised down to 3.7% from the 3.9% forecast in April.

The big picture: Ten years after the financial crisis, the global economy is continuing to recover at a robust pace. Since April, however, new risks like the tightening of U.S. monetary policy, heightened trade tensions and emerging market meltdowns have prompted the IMF to temper its growth projections for a number of major economies, including the U.S., China, the U.K. and the euro area. The Organization for Economic Cooperation and Development's latest report similarly downgraded its global growth estimate from 3.8% to 3.7%.

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Brace yourself for a coronavirus outbreak

Illustration: Aïda Amer/Axios

Public-health officials’ warnings about the coronavirus are sounding increasingly urgent, with one top CDC official asking the public yesterday "to prepare for the expectation that this might be bad."

Reality check: Other administration officials, including President Trump himself, were more subdued in their assessments. But underneath those tonal differences, the reality of the coronavirus is the same: It spreads quickly, and has already spread to many countries, making it likely to start spreading here, too.

Exclusive: Pro-Trump group plans post-Super Tuesday blitz on Democrats

Democratic presidential hopefuls take the debate stage in South Carolina. Photo: Logan Cyrus/AFP via Getty Images

Pro-Trump super PAC America First Action is preparing to unleash a series of targeted, swing-state attacks on the Democrats most likely to face President Trump after Super Tuesday, people familiar with the group's plans tell me in an exclusive preview of its strategy.

The state of play: The group has been tracking favorable/unfavorable ratings in Florida, Georgia, Michigan, North Carolina, Ohio and Pennsylvania for 2020 candidates Joe Biden, Bernie Sanders, Elizabeth Warren, Pete Buttigieg and Michael Bloomberg — under the theory that if Trump wins each of these six states he would win re-election.

Bob Iger stuns media world with sudden departure as Disney CEO

Photo: Jeff Kravitz/FilmMagic

In a move that shocked the media industry, Bob Iger said Tuesday he would step down from his role as CEO of the Walt Disney Company after leading the entertainment giant to unprecedented success during his 15-year run in the job.

Why it matters: Iger is credited with having successfully led Disney through a series of risky but highly-successful acquisitions that not only solidified the company's entertainment dominance, but also ultimately reshaped the entire media landscape.