Down to only .7% for Q4 GDP forecast. JPM went down to 1% today as well.

It’s a bit below the DC Fed’s 3%+ forecasts earlier in the year, when the lower price of oil was presumed to be an unambiguous positive for growth, further supported by the massive monetary stimulus of near 0 rates and trillions of QE.

And a bit below their latest, similar forecasts of a couple of weeks ago when they judged the economy ‘solid’ and raised rates.