WASHINGTON, DC - APRIL 15: White House Office of Management and Budget Director Russell Vought arrives to testify before the House Budget Committee 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: White House Office of Management and Budget Director Russell Vought arrives to testify before the House Budget Committee 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: Eleanor Mueller (Congress Reporter - Semafor) 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: Eleanor Mueller (Congress Reporter - Semafor) 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) Suzan DelBene (Congresswoman - D-Washington) and Eleanor Mueller (Congress Reporter - 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) Suzan DelBene (Congresswoman - D-Washington) and Eleanor Mueller (Congress Reporter - 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) Suzan DelBene (Congresswoman - D-Washington) and Eleanor Mueller (Congress Reporter - 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) Patrice Louvet (President & CEO - Ralph Lauren), Noah Horowitz (CEO - Art Basel), Patrice Louvet (President & CEO - Ralph Lauren) and Imran Amed (Founder, CEO and Editor-in-Chief - The Business of Fashion - The Business of Fashion) 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)