Goldman Sachs’ Chairman’s letter to shareholders

Goldman Sachs’ Chairman and CEO Lloyd Blankfein published his letter to the shareholders of the bank. He says 2016 started with concerns about global economic growth but as the global economic outlook improved in the second half, other concerns drew to the forefront. Looking ahead, Blankfein says, “economic growth was showing signs of improvement, even before the election. U.S. interest rates are poised to rise, as policymakers digest improving economic indicators, while other global markets hold steady or even engage in stimulus, creating opportunities for investors in monetary policy divergence.” Separately, Goldman Sachs will begin moving hundreds of people out of London before any Brexit agreement is struck as part of its contingency plan, Reuters says.