Goldman Sachs reversed its prediction that the United States will enter a recession following President Donald Trump‘s decision to pause reciprocal tariffs on dozens of countries for 90 days. 

“Earlier today, before President Trump’s announcement, we had shifted to a recession baseline in response to the additional country-specific tariffs that went into effect this morning,” the Goldman Sachs team, led by Jan Hatzius, said Wednesday. “We are now reverting to our previous non-recession baseline forecast.”