What Recession: Goldman Now Expects Q2 GDP To Surge To 2.4%

One month ago, Goldman's Jan Hatzius became the butt of Wall Street nerd jokes when in the span of 73 minutes, the bank's chief economist revised his US outlook to make a recession his base case forecast... only to flipflop just over an hour later when Trump announced a delay to his tariffs, reverting to his previous "non-recession baseline", yet one where he still sees a 45% chance of recession.

It was also around this time when we predicted that, amid the panic and chaos on Wall Street which saw virtually every economist make a recession their base case scenario, it would be about a month when we would see a wholesale - and very quiet - walk back, as "all the banks who made a recession their base case this week, make an unrecession their base case."