“I’d say things are pretty good,” Blankfein told “Mad Money” host Jim Cramer on Monday. “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 argued that areas of the world like China and Europe are seeing at least some growth, and while it is not anything major, it is not bad given what many in the market would expect.
The CEO said that while he was not totally on board with President Donald Trump’s agenda, he thought tax cuts, infrastructure spending and deregulation were some of Trump’s more promising initiatives, saying they would be generally good for the economy if realized.
“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.”
And while Blankfein does not believe the economic situation in the United States will get worse, he said the market is now anticipating a result somewhere between Trump accomplishing his agenda in full or not accomplishing very much at all.
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