Goldman Sachs CEO Lloyd Blankfein is on CNBC right now talking taper and all things Federal Reserve. Thankfully, he sounds calm cool and collected.
That could be because, as he told the Squawk Box crew, Fed tapering is not as big a deal as people are making it out to be.
He’s taking the line that the Fed does have to taper, but it’s going to go with a ‘taper light’ policy — cutting their quantitative easing program by $US10 billion.
If not, said Blankfein, the market will not like it.
Not that he’s changed his line on his general approval of the Fed’s policy.
“If I were running the economy,” he told Andrew Ross Sorkin, “I would do everything I could, and this is one of the things I would do.”
So now what?
“I spend 98% of my time on 2% of possibilities,” said Blankfein “we’re climbing the wall of worry. Very well positioned for the economy to keep improving. In other words I’m bullish.”