This is Exchanges of Goldman Sachs where we discuss developments currently shaping markets, industries, and the global

economy.

I'm Jake Stewart, Globalhead of Corporate Communications here at the firm.

The topic of today's episode is our update on U.S. growth and earnings forecasts and expected stimulus programs out of Washington.

To give you an in-depth look on this topic, we're going to share a call that was held for clients

earlier today with our top economists and strategists. That call featured Jan Hatzius, Goldman Sachs chief economist,

Alec Phillips, our chief political economist,

David Merical, chief U.S. economist, David Kostin,

chief U.S. Economist, David Kosten, Chief U.S. Equity Strategist and was hosted by Allison

Nathan, a senior strategist in the firm's research division.

Now over to that conversation, hope you find it informative.

Good morning, afternoon, and evening to everyone.

Thanks for joining us on this update call.

We are going to provide an update on the U.S. fiscal stimulus program

and on our growth and earnings forecasts, both of which we've made large

revisions to.

On the call today with me, we have Alex Phillips, our chief political economist.

Jan Hatzius, our chief economist, David Miracle, our chief U.S. economist, and David

Kosten are chief U.S. Equity Strategists.

So with that, let's dive in, Alec, let's start with you.

Obviously, Congress has been hard at work, but nothing is quite done at this point. What is the latest on the U.S. fiscal package in terms of size and composition?

Sure. So in terms of the details is... and

...