Blankfein thinks we are moving into a “growthier” environment

Goldman Sachs Chairman and CEO Lloyd Blankfein sees the Trump administration as one that promises a more optimistic outlook for the market environment in 2017. In Goldman Sachs’ weekly macroeconomic insights, he says: “the change in the market today is from a cycle where we were of very low economic activity… and it feels like we’re changing into one which is going to get ‘growthier’ … more opportunity and one in which we get a bit more optimistic.” It’s almost become trite now in the market to say that there is a lot of uncertainty, but it is “uncertain for a reason,” there are a lot of things that are going on between a new administration in the US coming with the expectation of a substantial shift in policy from its predecessor’s and, more importantly, from what would have been expected if Clinton had won the presidency, as some market participants had expected. Blankfein says this means a shift towards more stimulative spending and a change in policy.