V//@PearlynCSY:Goldman slashes GDP forecast for the second quarter to just barely above water. Goldman sliced its second-quarter outlook for GDP to just 0.7%, down from the previous expectation of a 1.9% increase.Combined with the decline of 1.6% in the first quarter that would bring the first half to within a whisker of a recession.Wells Fargo economists said they expect more aggressive Fed policy to step up the timeline for a “moderate” recession starting soon and lasting a year.
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