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Squawk Pod

Goldman’s Former Head Lloyd Blankfein: Poverty & GDP Are Also Health Issues

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2543 Ratings

🗓️ 7 May 2020

⏱️ 35 minutes

🧾️ Download transcript

Summary

Lloyd Blankfein, former Goldman Sachs CEO and famed risk manager, discusses reopening economies to spare Americans further economic--and possibly physical--damage, and he shares lessons learned from the last financial crisis. United States Secretary of State Mike Pompeo explains Covid diplomacy as the U.S. looks to China for help in ending the global pandemic.

Transcript

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0:00.0

This is risk manager in a special interview. I think the right thing to do is to kind of push in the direction of opening up the

0:16.4

economy.

0:17.4

What coronavirus recovery could look like and how soon we can expect it.

0:20.9

Now some people express this as dollars versus health but that's

0:25.3

not fair it's really health versus health because you know poverty GDP is also

0:30.3

the health issue and Secretary of State Mike Pompeo on ending the

0:34.2

pandemic hopefully with China's help. The question that the Chinese

0:37.8

communist party has to help the world answer is have this come to be. Where

0:41.2

did it come from? How did it get in the while? Where's patient

0:43.4

zero? It's Thursday, May 7th, 2020, Squawk Pot begins right now.

0:49.1

Good morning everybody. Welcome to Squawk Box here on CM if you have been Becky quick along with Joe

0:53.6

Kernan and Andrew Ross Sorkin and let's take a look at the

0:56.3

another week and another three million Americans have filed for

0:59.6

unemployment the rolling total now sets a 33 and.5 million people out of work.

1:04.0

It's alarming and it's likely to grow, but maybe at a slower rate.

1:08.0

This is the lowest the weekly number has been since mid-March

1:11.0

when the World Health Organization first declared the COVID-19

1:14.3

virus a pandemic. These statistics are just a day ahead of the Labor Department's

1:18.3

monthly jobs report which is expected to reveal another grim picture of the

1:22.0

American workforce. Banker grim picture of the American workforce.

1:23.2

Bank of Minneapolis, Neil Kushkari, spoke on the Today Show this morning about

1:29.0

just how dismal those upcoming unemployment numbers could be.

...

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