Top leaders who let their personal prospects bias their world outview

(written by lawrence krubner, however indented passages are often quotes). You can contact lawrence at:, or follow me on Twitter.


Blankfein said in a video on the bank’s website that the market is shifting from a cycle of “pessimism about where we go” to “one in which it’s going to get growthier. More growth out there, more opportunity and one in which we are getting a bit more optimistic.”

If only Goldman’s own experts shared that view. As Trump has focused on restricting immigration and trade, the bank’s economists told clients last month that “the balance of risks is somewhat less positive” than when Trump was elected.

Goldman economist Alec Phillips cited difficulties replacing Obamacare, political polarization, and Trump’s disruptive policies: “Some of the recent administrative actions by the Trump Administration serve as a reminder that the president is likely to follow through on campaign promises on trade and immigration, some of which could be disruptive for financial markets and the real economy.”

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