STORY: :: Goldman Sachs CEO anticipates the Trump

administration will run a more 'growthy' playbook

:: David Solomon, Goldman Sachs CEO & Chairman

:: New York

:: December 10, 2024

"Well, what I'd what I what I'd say at a high level when you think about our business is our business is very correlated to growth in the economy. It's very correlated to investment. And so if you create an environment that's a high growth environment with lower regulatory expectations, you probably have an environment that's good for asset prices and is good for transactional activity."

Those things are good for Goldman Sachs as business. A combination of the fact that naturally we were getting to a point where those activities were picking up and the shift in administration, which I think appears to be an administration that's going to run a more growthy kind of playbook is one that's quite good for our business and our business activity. Now, whether or not it plays out that way, the markets say that's going to play out that way. But whether it does play out that way and how the combination of policy initiatives are ultimately implemented will have an impact on growth and asset prices, etc."

Asked about a proposed cross-the-board tariff on imports outlined by president-elect Donald Trump, Solomon responded, "As I as I said, when you asked when you asked the question a couple of minutes ago, I I don't know specifically what will be implemented. I think nobody knows what will be implemented. And so, you know, again, I think that that reciprocity and using tariffs as a negotiating platform to drive balance and trade is a very interesting strategy. Across the board, blanket tariffs are something the market will not like and it will have an impact on growth and activity if you wind up with a policy that implements that way."

Solomon also told Reuters he was excited to work with the new administration's economic policy team, which includes several figures from the financial world.