Who could have predicted this? Wall Street's consensus crowd of perennial optimists have taken the machete out to Q2 GDP growth expectations (just as they had to when Q1 showed them all for the worse weather forecasters ever). The tumble in Q2 expectations brings Wall Street once again, closer to where The Atlanta Fed's GDPNow model forecast is... a mere 0.7% growth... and drags total 2015 growth well below trend.
Atlanta Fed wins in Q1...
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And Wall Street Consensus looks like it is losing once again...
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This has dragged 2015 expectations down to just 2.5% GDP growth overall...
[5]
It appears Keynesian hockeysticks are as real as unicorns.
h/t @Not_Jim_Cramer
