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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The Wall Street stated on Monday the company’s co-president Harvey Schwartz is ready to retire next month after serving for two decades at Goldman Sachs.

“Harvey has been a mentor to many, and his influence has made an indelible impact on generations of professionals at Goldman Sachs,” Blankfein added.

Schwartz was considered a potential successor to Blankfein, however, his departure will leave veteran executive David Solomon as the sole president and next in line to take over as the new CEO.

According to CNN Money, Blankfein said in a statement, “I look forward to continuing to work closely with David in building our franchise around the world, serving our expanding client base and delivering strong returns for our shareholders.”

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