Tags: Goldman | CEO | Blankfein | Economy | Trump

Goldman CEO Blankfein: 'Things Are Pretty Good' With US Economy

By Newsmax Wires   |   Tuesday, 20 Jun 2017 09:01 AM

Goldman Sachs Chairman and CEO Lloyd Blankfein said the thinks “things are pretty good” in today's economy.

The CEO based his claim on global statistics, which he said are better than people think, CNBC reported.

"I'd say things are pretty good," Blankfein recently told "Mad Money" host Jim Cramer. "If you looked at things statistically, you looked at the numbers, you looked at the metrics, [the United States] at full employment, low energy prices, growth – a lot of the metrics are all positive."

Blankfein did remain skeptical about President Donald Trump’s economic blueprint to truly “Make America Great Again.” Blankfein admitted that tax cuts, infrastructure spending and deregulation were some of Trump's more promising initiatives.

"I know that there's some people who believe, as do we all, that sensible regulation is good, but there was some redundancy and there's been a bit of a wax built up as layers and layers have gotten on it and no doubt impeded the economy, and he represented trying to deal with it," Blankfein told Cramer.

"Now, the devil, of course, is in the detail, and how you look at it depends on what you wanted. But, in any case, it seems to have gotten bogged down in the issue. I'd say the market now is not what he wants to do, but whether he'll be effective in accomplishing it."

Blankfein isn't alone in his optimistic economic outlook.

Anthony Puzder, the former chief executive of CKE Restaurants who was President Donald Trump’s first pick for U.S. labor secretary, said the new administration is having many positive effects on the economy.

The most important indicator is the rise in household income, which gained more in the first three months of the Trump presidency than during the entire seven and a half years of the Obama recovery. Median household income has surged $1,300 since the beginning of the year to $59,361, compared with a $1,000 gain during the Obama years.

“President Trump’s focus on reining in the administrative state has significantly reduced both the number of existing regulations and the output of new regulations, driving business optimism,” Puzder said in an opinion piece for The Hill. “Unlike policies that increase the oppressiveness of government, policies that incentivize business growth (like deregulation) produce jobs, opportunity and prosperity.”

(Newsmax wire services AP and Bloomberg contributed to this report).

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Goldman Sachs Chairman and CEO Lloyd Blankfein said the thinks “things are pretty good” in today's economy.
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