Lloyd Blankfein: “Near the End of Tightening Cycle”
“It might seem like forever, but obviously it won’t be forever,” said Lloyd Blankfein, former Goldman Sachs chairman and CEO, regarding the Federal Reserve’s series of interest rate increases. Speaking on Marcus & Millichap’s latest webcast, Blankfein continued, “These are all cycles and we’re getting near the end of this one. We’re certainly near the end of the tightening cycle and we’re near the end of the effect of the tightening cycle.”
Blankfein was the featured speaker on the economic outlook webcast, hosted by Marcus & Millichap president and CEO Hessam Nadji. He concurred with Nadji that the Fed waited too long to begin addressing the inflation that resulted from the pandemic, but added, “they’ve done a pretty good job more recently.”
The hour-plus webcast brimmed with insights. Jeffrey DeBoer, CEO of the Real Estate Roundtable, charted the state of the macroeconomy and its impact on commercial real estate. Sharon Wilson Geno, president of the National Multifamily Housing Council, highlighted the ongoing affordability issue. And Tom McGee, president and CEO of ICSC, discussed retail supply and demand.
Click here for on-demand replays of the Sept. 26 webcast.