Lloyd Blankfein: Market Stability & Fed-spectations 03/22/23

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 22 March 2023

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In an extended interview, former Goldman Sachs CEO Lloyd Blankfein discusses the fine line for Federal Reserve Chairman Jay Powell, who prepares to speak to markets and investors today. Blankfein discusses the Fed’s inflation fight vs. market stability balancing act, and he shares the lessons on regulation and transparency that he learned from his own experience with a banking crisis in 2008. Plus, a break from the banks: Petco’s business is booming, CEO Ron Coughlin says, thanks to the work-from-home surge; the Mets are going members-only (for $25,000), and Nike’s pace is lagging–for income, at least. In this episode: Lloyd Blankfein, @lloydblankfein Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Hey, it's Katie Kramer, your Squack Pod host. Before we start today's episode, I want to thank you. Our
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0:41.6	That's it.
0:42.4	Thanks, everybody. Now, let's get to the podcast.
0:45.0	Bring in show music please.
0:50.0	Today on Squawk Pod
0:52.0	are the latest extraordinary measures to save banks worth it?
0:57.0	Former Goldman Sachs CEO Lloyd Blankfine.
1:00.0	You know, I'm in the risk management business and so I don't care what anybody says I don't even care what I think contingency planning
1:06.7	on the race to shore up the financial system and the policy risks at play.
1:11.0	Well I'm not fighting the market I think right now interest rates are high because we're trying to step on the brakes when you're driving normally
1:17.4	you don't drive your foot on the brake.
1:20.1	Plus a palette cleanser.
1:21.8	PetParens, we've got one for you, Pet Coe's CEO on the booming barking business.
	...

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