Goldman CEO Lloyd Blankfein Isn’t Surprised by the Trump Rally
Fri Nov 11 2016
Jim Andrews (456 articles)

Goldman CEO Lloyd Blankfein Isn’t Surprised by the Trump Rally

Lloyd Blankfein says he would be buying on any Donald Trump dip.

The CEO of Goldman Sachs gs says he’s not surprised that that the market has rallied on the GOP candidate’s presidential win. What’s more he said that it’s likely that the president-elect will continue to be good for the market.

“Trump’s policies are asset friendly and market friendly,” says Blankfein.

Blankfein said lower taxes and pursuing lighter regulation, if Trump follows through, will be good for the market.

The Goldman Sachs CEO said that he was surprised that Trump won the election, but not what has happened in the market. Stocks have surged just over 400 points on the Dow Jones Industrial Average. That rally has surprised a lot of people on Wall Street, including presumably some analysts at Goldman. Prior to the election, a number Goldman strategists said that a Trump win would cause the the stock market to crater overnight.

What’s more Blankfein, who was speaking on Thursday at the New York Times‘ Dealbook conference, took a slight dig at another CEO who spoke at the same conference. Earlier in the day, Pepsi CEO Indra Nooyi said a number of her employees were in mourning, and she suggested that she and others should spend time comforting them.

“I’m going to see how it goes before I become mournful,” says Blankfein.

Blankfein also commented on who should be Treasury Secretary under Trump. Rumors emerged on Thursday that Jamie Dimon was someone Trump was considering for the job. Blankfein said that he thought the CEO of J.P. Morgan Chase would make a great Treasury Secretary.

“I think it’s a terrific idea,” says Blankfein. “I think he’d be great at the job and it would also eliminate one of my toughest competitors. It would kill two birds with one stone for me.”

Jim Andrews

Jim Andrews

Jim Andrews is Desk Correspondent for Global Stock, Currencies, Commodities & Bonds Market . He has been reporting about Global Markets for last 5+ years. He is based in New York


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