Apr 9, 2019

IMF slashes global growth expectations for 3rd time in 6 months

The IMF seal outside its headquarters in Washington, DC. (Photo: Mandel Ngan/AFP via Getty Images)

The International Monetary Fund cut its expectations for global growth from 3.5% to 3.3% — the third downgrade since October, as Reuters points out — and said major risks to the world economy like the U.S.-China trade war and Brexit are skewed to the downside.

Why it matters: The IMF's economic downgrade is broad based. Per its latest outlook, the group dialed down growth expectations across the eurozone, Latin America, the U.S., the U.K. and Australia. Its more optimistic projections for next year's economic growth — at 3.6%— "relies on an expected rebound in growth in Argentina and Turkey" as well as other "stressed developing economies, and is therefore subject to considerable uncertainty," the report says.

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MLB's Rob Manfred is latest villain in Astros' cheating scandal

Illustration: Aïda Amer/Axios

MLB Commissioner Rob Manfred's decision to grant Astros players immunity in exchange for confessions about their sign-stealing scheme has undermined his reputation — and he only made himself look worse on Sunday.

The interview: In a 45-minute conversation with ESPN, Manfred asserted that public shame was punishment enough for the Astros. He also called the World Series trophy "just a piece of metal" and said that taking a title away from Houston "seems like a futile act."

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Economists warn coronavirus risk far worse than realized

Photo: Anthony Wallace/AFP via Getty Images

Worries are growing that the economic impact from the novel coronavirus outbreak will be worse than expected and that markets are being too complacent in factoring it in as a risk.

What's happening: The number of confirmed cases has already far outpaced expectations and even those reports are being viewed through a lens of suspicion that the Chinese government is underreporting the figures.

National newspapers thrive while local outlets struggle to survive

Illustration: Sarah Grillo/Axios

While big national newspapers grow stronger, local newspaper chains that have for decades kept the vast majority of the country informed are combusting.

Why it matters: The inequity between giants like the New York Times and the Wall Street Journal and their local counterparts represents a growing problem in America as local communities no longer have the power to set the agenda for the news that most affects them.