The WSJ has a roundup of the dismal forecasts for the second quarter spilling out of Wall Street.

The list of economic shops now estimating real GDP grew by less than a 1% annual rate last quarter include Goldman Sachs (0.8% as of Monday), Macroeconomic Advisors (0.6%), Royal Bank of Scotland (0.5%) and Barclays (0.5%).

The Fed is betting on the mythical ‘second half recovery’ and full-year growth of 2.45%. If growth in the second quarter is 1.0%, H2 growth will need to be at a 3.1% to hit the Fed’s forecast — not likely.