The State of the Markets: Gary Cohn on Interest Rates, Liquidity and Risk Management

Goldman Sachs Exchanges

Julia McGonagle

Business

4.4 • 1K Ratings

🗓️ 24 June 2015

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Gary Cohn, president and chief operating officer of Goldman Sachs, discusses key issues impacting the global economic landscape, including the anticipated rise in interest rates, market liquidity and the relationship between clearing houses and systemic stability. This podcast was recorded on June 17, 2015. This podcast should not be copied, distributed, published or reproduced, in whole or in part. The information contained in this podcast is not financial research nor a product of Goldman Sachs Global Investment Research. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast are not necessarily those of Goldman Sachs, and Goldman Sachs is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by Goldman Sachs to that listener, nor to constitute such person a client of any Goldman Sachs entity. Copyright 2015 Goldman Sachs. All rights reserved.

Transcript

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0:14.5	This is Exchanges of Goldman Sachs, where people from our firm share their insights on developments currently shaping markets, industries, and the global economy.
0:18.3	I'm Jake Stewart, Global Head of Corporate Communications here at the firm.
0:21.8	Today we're joined by our president and chief operating officer
0:25.1	Gary Combe to discuss key issues affecting financial markets
0:29.0	and the current macro environment.
0:31.1	We'll also talk a bit about his career and what he's learned during his 25 years,
0:35.0	it's official, 25 years at Goldman Sachs.
0:37.5	Gary, welcome to the program.
0:39.3	Jake, thank you very much.
0:40.4	It's great to be here.
0:41.7	Gary, we'll get to interest rates and hot topics in the markets in a second, but first, we've recently
0:46.5	seen pretty dramatic improvement in the labor market, yet we hear of jobs going unfilled and there are still a lot of people looking for work.
0:55.0	What do you think is at play here between this mismatch between people looking for jobs and jobs that we can't fill?
1:01.0	And how should we be thinking about addressing that gap?
1:04.0	Jake, that's a great place to start.
1:06.4	We have a unique position in this country where there are many, many job openings and many, many
1:11.8	unemployed people.
1:13.0	And you say, how could that be so?
1:15.0	Well, it's so because the skill sets that are needed for the job openings
1:20.0	aren't the skill sets that the working force or labor force has today.
1:24.0	And many of the skill sets are not skill sets that you need to go to college to have.
1:28.9	Some of them are programming jobs.
	...

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