Monika Schnitzer, Chairwoman of the German Council of Economic Experts (Sachverstaendigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung), presents the council's annual report to German Chancellor Friedrich Merz on November 11, 2026 at the Chancellery in Berlin. (Photo by RALF HIRSCHBERGER / AFP via Getty Images)

Monika Schnitzer, Chairwoman of the German Council of Economic Experts (Sachverstaendigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung), presents the council's annual report to German Chancellor Friedrich Merz on November 11, 2026 at the Chancellery in Berlin. (Photo by RALF HIRSCHBERGER / AFP via Getty Images)

Monika Schnitzer, Chairwoman of the German Council of Economic Experts (Sachverstaendigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung), presents the council's annual report to German Chancellor Friedrich Merz as German Finance Minister and Vice Chancellor Lars Klingbeil (L) looks on, on November 11, 2026 at the Chancellery in Berlin. (Photo by RALF HIRSCHBERGER / AFP via Getty Images)

Monika Schnitzer, Chairwoman of the German Council of Economic Experts (Sachverstaendigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung), presents the council's annual report to German Chancellor Friedrich Merz as German Finance Minister and Vice Chancellor Lars Klingbeil (L) looks on, on November 11, 2026 at the Chancellery in Berlin. (Photo by RALF HIRSCHBERGER / AFP via Getty Images)

Monika Schnitzer, Chairwoman of the German Council of Economic Experts (Sachverstaendigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung), presents the council's annual report to German Chancellor Friedrich Merz as German Finance Minister and Vice Chancellor Lars Klingbeil (L) looks on, on November 11, 2026 at the Chancellery in Berlin. (Photo by RALF HIRSCHBERGER / AFP via Getty Images)

A waxing crescent moon is seen beside Crown Sydney in the city's central business district on November 11, 2026. (Photo by Saeed KHAN / AFP via Getty Images)

TOPSHOT - People walk past the New York Stock Exchange (NYSE) on November 10, 2026 in New York City. Wall Street stocks dipped early Tuesday following disappointing US inflation data as Nvidia shares continued to retreat due to a scandal involving CEO Jensen Huang. The consumer price index for October rose 0.4 percent from September, down from the prior month's 0.6 percent increase but a bit more than the 0.3 percent expected by analysts. (Photo by ANGELA WEISS / AFP via Getty Images)

TOPSHOT - American flags are displayed on screens ahead of Veterans Day as traders work on the floor of the New York Stock Exchange (NYSE) in New York City on November 10, 2026. Wall Street stocks dipped early Tuesday following disappointing US inflation data as Nvidia shares continued to retreat due to a scandal involving CEO Jensen Huang. The consumer price index for October rose 0.4 percent from September, down from the prior month's 0.6 percent increase but a bit more than the 0.3 percent expected by analysts. (Photo by ANGELA WEISS / AFP via Getty Images)