Top economist Ed Hyman no longer sees recession coming, flips GDP forecast to positive

Economist Ed Hyman is changing his tune on the likelihood of a hard landing for the economy, now predicting a softer landing instead. He previously expected a 2% decrease in real GDP in the fourth quarter but has now revised that to 1% growth. Despite some lingering concerns, he sees several factors supporting a soft landing, such as low layoffs, high liquidity, and a resilient consumer. However, recent challenges in consumer credit and a weakening employment picture have added some weight to the hard landing argument. Overall, Hyman is taking a cautious approach and urges to stay tuned for further developments.