The Goldman Sachs Group Inc Chief Executive’s Lloyd Blankfein offered shareholders a guardedly optimistic forecast for economic recovery, saying investors are now talking about when, not if, markets will rebound. “My hope is, and if I had to guess I’d say, that business feels like it’s off its lowest ebb,” Blankfein said at the bank’s annual shareholder meeting, a day after Goldman received a clean bill of health from the US government stress tests. The former commodities trader hedged his comments, though, telling shareholders, “It’s hard to make those kinds of forecasts. You have to make them every minute, because markets are so volatile.” Blankfein said Goldman does not plan to make further job cuts.”We have no plans on the horizon for downsizing, but we’ll respond to the environment,” he said. “We don’t feel the pressure to downsize now.”
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