Tags: goldman ceo blankfein economy looks awfully good | will grow under trump

Blankfein: Economy Looks 'Awfully Good,' Will Grow Under Trump

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By    |   Wednesday, 18 April 2018 01:32 PM

Goldman Sachs CEO Lloyd Blankfein is very optimistic about the future under President Donald Trump, boasting that the economy looks "awfully good."

Blankfein also told CNBC that he doesn’t expect the U.S. and China to engage in a "mean-spirited” trade war.

"If you divorce yourself from a general feeling of anxiety and just look at the facts and the numbers and what you can measure, you can say things look awfully good, and it feels like awfully good in a way that there could be a bit of a runway here for things to remain pretty good," Blankfein told CNBC's "Squawk Box."

He explained that inflation remains low, causing interest rates and commodity prices to be lower than they normally would be at this stage of a prolonged economic recovery, CNBC.com reported.

"I think we'll go forward here with a playbook that involves optimism with a kind of healthy state of anxiety that Goldman Sachs has been producing in its leaders for 149 years now," Blankfein said.

Blankfein doesn't expect a full-blown trade war between the U.S. and China because it would eventually be lethal to both nations.

He said he doesn't blame Trump's desire for a better trade arrangement between the two nations. But he said a "real aggressive, mean-spirited trade war is so bad" that both parties will do what they can to avoid it, CNBC.com explained.

"We need each other on a lot of other things as well. Look at the security situation in the world with North Korea," Blankfein said. "There are other things at stake here, maybe bigger things at stake that will provide another impetus for us getting together and working these issues out."

Blankfein expects the market to settle down from its recent breath-taking volatility.

"I wouldn't say we're popping champagne corks, but we can certainly see what happens when we start to work back towards a normal financial market," he said.

Meanwhile, stocks have gained solidly in the past two days after strong results from industry bellwethers as well as positive economic data helped investors turn attention away from geopolitical and trade tensions, Reuters explained.

For his part, Trump took to Twitter to tout the economy.

"So many people are seeing the benefits of the Tax Cut Bill. Everyone is talking, really nice to see!" Trump said in a recent tweet.

(Newsmax wire services contributed to this report).

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Goldman Sachs CEO Lloyd Blankfein is very optimistic about the future under President Donald Trump, boasting that the economy looks "awfully good."
goldman ceo blankfein economy looks awfully good, will grow under trump
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Wednesday, 18 April 2018 01:32 PM
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