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🚀 IMF downgrades US economic forecast
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Market Overview
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The IMF has sharply downgraded its 2025 U.S. growth forecast from 2.7% to 1.8%, blaming President Trump’s April 2 tariff announcement for triggering a negative supply shock. The rapid shift forced IMF economists to scrap nearly finalized projections and condense their analysis timeline into just ten days. Tariffs and the resulting trade retaliation have rocked markets—sending the S&P 500 down 9%—and pushed U.S. recession odds up to 40%. Inflation expectations also jumped, with U.S. inflation now projected to hit 3% in 2025, up a full point from January. Global growth was revised down to 2.8%, amid uncertainty over whether the tariff regime will be short-lived or a structural shift.
Bitcoin has surged back above $90,000, gaining more than 3% Tuesday and reclaiming momentum as investors flee a weakening dollar and jittery equity markets. The rebound, fueled in part by $381 million in ETF inflows—the highest since January—comes amid growing political chaos, as President Trump pressures Fed Chair Powell to cut rates and even explores firing him. While bitcoin is up 21% from its April lows, analysts note trading volumes remain light and the crypto’s decoupling from equities may be tenuous. Still, long-term holders are staying firm, and technical analysts point to $95,900 as the next resistance target.
Fruitist, the $1 billion berry startup formerly known as Agrovision, has seen its jumbo blueberry sales triple in the past year, propelling annual revenues past $400 million and attracting high-profile investors like Ray Dalio’s family office. The company’s edge lies in a vertically integrated, tech-powered supply chain that extends from its global farms to retailers like Costco and Whole Foods. CEO Steve Magami says Fruitist was built to fix “berry roulette,” using machine learning and microclimate farming to deliver consistently fresh, long-lasting berries. With minimal marketing to date, Fruitist is eyeing an IPO and expansion into cherries, while playing down tariff risks thanks to year-round U.S. production.
Headlines
Gold continues to rise, hitting new records as Trump’s economic policies create increasing uncertainty.
Harvard is suing the federal government after Trump cut their funding due to Harvard’s unwillingness to abide by the Trump administration’s recommendations to prevent antisemitism.
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