International Finance

Goldman Sachs CEO Lloyd Blankfein positively reviews US economy

In a CNBC interview, Blankfein said the US economy looks ‘awfully good,’ despite the bull market in stocks fell sharp

“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 concluded in a interview Squawk Box.

In his view, the inflation rate remains low impacting interest rates and commodity prices to drop than they would under normal standards. Blankfein does not foresee a trade war to extend between US and China due to unfavorable outcomes for both nations. He said US President Donald Trump’s efforts to pursue amicable trade arrangement between both nations is sensible, and they will take action to prevent a ‘real aggressive, mean-spirited trade war’. 

“We need each other on a lot of other things as well. Look at the security situation in the world with North Korea. 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,” he added.

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