First on CNBC: CNBC Excerpts: CNBC's Scott Wapner Speaks with Lloyd Blankfein, Goldman Sachs Chairman & CEO, Today on CNBC



Following are excerpts from the unofficial transcript of a FIRST ON CNBC interview with Goldman Sachs Chairman & CEO Lloyd Blankfein today on CNBC's "Street Signs." Following is a link to the video on

All references must be sourced to CNBC.

Blankfein on Activity:

For where we are in the economic cycle given the level interest rates which are low, equity values higher we think there should be more activity now generally than we are seeing. By the way you can search for reason why or decide it is just around the corner. Personally I think the market will catch up to itself.

Blankfein on Valuations:

The most common thing we hear today is, 'these people were talking but they couldn't agree on valuation.' So in a period in time where there is uncertainty on tax rates, what growth will be, whether there will headwinds because of austerity measures being adopted, trying to close the budget and all these kinds of things, there's disagreement on valuation in the immediate future. But as that gets cleared up, even if you don't like the answer, it's going to result in more activity.

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