Lloyd Blankfein, senior chairman and former CEO of Goldman Sachs.

(Reuters file photo)

[Financial Channel/Comprehensive Report] Goldman Sachs (Goldman Sachs) senior chairman and former CEO Lloyd Blankfein (Lloyd Blankfein) said on Sunday (19th) that the turmoil in the banking industry may drag down economic growth as banks become more conservative. .

"Reuters" reported that Blankfein said in an interview that the greater risk environment faced by the financial industry will lead banks to save capital and reduce risk-taking behavior. Investment and lending will become more and more conservative, which will inevitably lead to economic Growth slowed.

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Blankfein also mentioned that although some banks have recently stagnated due to poor management and excessive risk concentration, the overall banking system is well capitalized and supervision is more stringent than in previous challenging periods.

Blankfein served as chairman and chief executive of Goldman Sachs from 2006 to 2018 and led the Wall Street firm through the 2008 global financial crisis.

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