"Now, this isn't the worst of markets, and it surely not the best of markets. Prices are high," he said.
Prices are high because "monetary policy has been so supportive, it's been so inflated," Blankfein said. But one of the risks of prevailing monetary policy is that "assets are being pumped up almost indiscriminately," he said.
"On the revenue side, this hasn't been exactly the strongest tailwind that anybody can have," Blankfein said, adding that "almost all the businesses that we have correlate with growth."
Goldman Sachs is in the business of financing "people who do transactions. People do transactions when they have confidence," Blankfein said. The bank, however, will continue to look for other opportunities, even when markets aren't as robust.
The investment bank reported quarterly results on Tuesday that easily topped analyst estimates. Goldman Sachs reported earnings of $4.88 a share on revenue of $8.17 billion. Wall Street had expected the company to post earnings of $3.82 per share on $7.42 billion.
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