About

My photo
Andrew T. Gillies is Director of Communications at the Center for Audit Quality, an affiliate of the American Institute of CPAs, in Washington, DC. Based in Washington since 2002, he has also worked in editorial and communications roles at the Investment Company Institute, the World Bank, Forbes, and Vault.com. His policy-themed writing has focused on aerospace and defense, energy and environment, transportation, and financial services.

Thursday, May 02, 2013

Luncheon with Keynote Speaker: Lloyd C. Blankfein in Conversation with Paul Schott Stevens

If Lloyd Blankfein were in charge of the U.S. economy, what would he be most afraid of? Blankfein, Chairman and CEO of The Goldman Sachs Group, gave his answer in a conversation with ICI President and CEO Paul Schott Stevens at ICI’s General Membership Meeting.

“I’d be most afraid of the economy sliding back into a deflationary period,” said Blankfein, who has held the top job at Goldman Sachs since 2006. “In some ways, we are in a deflationary mindset.”

While saluting the Federal Reserve’s policies, Blankfein questioned whether its extraordinarily accommodative monetary approach in recent years can remain effective. “What’s the value at this point of taking mortgages down another 3 basis points?” he asked. “Is that going to make people do something they weren’t going to do before?”

Full Story at ICI Viewpoints