That's what the International Monetary Fund's predicting. Yesterday, it released the World Economic Outlook report, warning that the global economy is in for a "hard landing." Read: a sharp slowdown.This year, the global GDP is expected to fall to 2.8% from 3.4% last year. And it's expected to sit around 3% five years from now — the IMF's lowest forecast in about three decades. The organization points to inflation, high interest rates, recent banking problems, and Russia's war in Ukraine for the not-so-great outlook. It added that these predictions assume that any financial stresses (like the banking crisis) are under control — meaning things could get cloudier if banks don't remain steady. As for the US, the IMF estimates the economy will grow by 1.6% this year.
Any other good news?
That remains to be seen. Today, US officials are releasing the March inflation report. Analysts don't expect to see a major rise in inflation. It's not the only thing people are keeping an eye on. The gov's also publishing details from the Federal Reserve's meeting last month, which might give better insight on whether the central bankmay raise interest rates for the tenth time in a row next month. Meanwhile, Treasury Secretary Janet Yellen said the IMF is being a little negative, and she thinks the economic "outlook is reasonably bright." She added that the US is doing "extremely well economically."
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The IMF is considered a leading organization when it comes to the global economy. The org's latest forecast comes as many are already feeling a pinch in their pockets. However, US officials say they aren't sweating it.
The Biden admin. Yesterday, the Interior Department released a draft proposal to address the Colorado River's shrinking water supply. More than 40 million people in 30 tribal nations and seven states rely on the river for drinking water and electricity. But the river's levels have been dropping thanks to overuse and a 23-year-long drought. Many have called on neighboring states to cut down on their water use or risk the river drying up. But the states didn't go with the flow and failed to agree on voluntary cuts. Now, the Interior Dept is laying out all the cards on the table with three options: do nothing and have the river run dry; equally cut water by about 13% across Arizona, California, and Nevada; or make cuts based on senior water rights (giving special privileges to states like CA). The gov said the river is a crucial water resource and "failure is not an option." However, California and tribal leaders aren't big fans of the gov's ideas. The Interior Dept is expected to make the final call this summer.
No (water) pressure: Arizona and Nevada are swing states in the 2024 presidential election and have Senate seats up for grabs as well. According to some political experts, the admin's decision on water rights could impact re-election chances or which party controls Congress.
Who's saying 'you got served'...
Manhattan District Attorney Alvin Bragg. Yesterday, he sued Rep. Jim Jordan (R-OH) for allegedly interfering in the DA's investigation into former President Trump. Bragg accused Jordan — the chair of the House Judiciary Committee — of leading an inquiry to "undermine" his efforts. Reminder: Jordan called the DA's decision to charge Trump politically motivated and has been looking into the DA's probe. Last week, the committee subpoenaed Mark Pomerantz, who was a lead prosecutor during the Trump investigation. He ended up resigning from the DA's office because he didn't agree with Bragg's decision to hold off on criminal charges against Trump at the time. Now, Bragg wants to block Pomerantz from testifying, saying the subpoena is also asking for confidential info. In a tweet, Jordan said the DA's office moved to indict "a president for no crime." Pomerantz is scheduled to testify in front of the House committee next week.
What has health experts raising alarms...
STIs. Yesterday, the CDC released data showing that chlamydia, gonorrhea, and syphilis infections are on the rise. Between 2020 and 2021, the agency said there were more than 2.5 million reported STI cases. Experts reportedly attributed the rise to a drop in condom use, poor sex education, and less testing during the pandemic. The CDC said STIs are disproportionately affecting people of color and gay and bisexual men. Now, the agency's pushing for better testing and treatment options. It's also reportedlydrafting recommendations for the use of doxycycline, an antibiotic that's been around for more than 50 years. The hope is that the drug could be used as a morning-after pill to help prevent STIs.
What's willing to pay up…
OpenAI. Yesterday, the ChatGPT parent company announced a bounty program that will pay people to find bugs in its ChatGPT chatbot, plugins, and OpenAI API services. The company said it's willing to offer between $200 to $20,000 — depending on the size of the bugs. Happy Chatbotting.
…Oh and speaking of tech, Elon Musk hinted that Twitter has merged with X Corp. The move seems to push Twitter further away from its microblogging roots and toward plans to create an "everything app."
Here at theSkimm we always try to be mindfulof just how much everyday waste we produce — because, hey, we've only got one planet. In honor of Earth Day (April 22, peeps), we're sharing product recommendations to help you manage your carbon footprint:
In February, ahead of our 2023 State of Women campaign, we asked Daily Skimm readers to tell us how you are reshaping your finances, careers, and families in the wake of the past few years. Your answers indicated that millennial women are over all of it: default unpaid caregiver status, unreasonable expectations at work, partners who don't do their share at home, doctors who gaslight women, politicians who can't enact helpful policy. But the numbers also suggested that women aren't resigned; instead, they are reprioritizing, putting their own wellbeing first because they've learned no one else will.
Looking ahead to May, when we will celebrate Asian Pacific Islander Desi American (APIDA) Heritage Month, we want to hear specifically from readers who identify as Asian American. In the last three years, what actions have you taken — big or small — that dramatically improved your life, and how? Tell us about it using this form. We may feature your answer in an upcoming story.
Here are today's recs to help you live a smarter life…
2. Must-have sneakers that give back to the Earth.
This B-corp certified brand will plant two trees for every pair purchased. They're also ridiculously comfy, making them perfect for adventurers, skaters, surfers, errand-runners, and HQ'rs alike. Plus Skimm'rs get 20% off. Run, don't walk.*
3. A sale on Tarte at QVC.
Snag this mascara and a concealer (with an accompanying sponge). PS: The concealer comes in a wide range of colors, so you're sure to find your perfect match.
4. Products for slightly embarrassing problems.
Maybe you've experienced these, maybe you haven't. Either way, these items can help remedy the tiny struggles, from unwanted odors to stains.
Psst...looking for more discounts on brands Skimm'rs love? Check out all of our exclusive promo codes here.
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We like to celebrate the wins, big and small. Let us know how your friends, neighbors, coworkers (and yes, even you) are making career moves, checking off goals, or making an impact in the community.
Something sweet…Cory A (GA). She's hosting a virtual tea party to raise awareness for ME (myalgic encephalomyelitis), a debilitating disease that affects many body systems. She's also fundraising through her Baby Deer Bakery. Check it out here.
(Some) Birthdays…Rita Haves (NY), Brooklyn Decker (NC), Laura Mersman (KS), Caroline Hale (NC), Wendi Douglas (MO), George Pickel (NY), Sam Danovich (CA), Katie Johnson (DC), Shana Vono (NY), Ann Withun (PA), Asa Dillard (CA), Shalina Jaffer (FL), Amy Hood (IL), Victoria Racanelli (NY), Ashley Harrell (WI)
PS: Paging all members of theSkimm. Reach out here for a chance to be featured.
Skimm'd by: Rashaan Ayesh, Melanie De Lima, Anacaona Rodriguez Martinez, Chantal Vaca, Maria del Carmen Corpus, and Mariza Smajlaj
