What's Coming From The Fed? Goldman Sachs' CEO Lloyd Blankfein Weighs In

Goldman Sachs (NYSE: GS) CEO and Chairman Lloyd Blankfein discussed a variety of timely topics on CNBC's Squawk Box on Wednesday morning, including the best person to replace Ben Bernanke as chair of the Federal Reserve and the impending accommodation reductions.

With everyone's attention drawing towards today's 2:00 p.m. EST announcement from the Fed, Blankfein said that there's likely to be some cut.

"I think if it's a number like down $10 billion, the market will be very, very happy. If it's more than that, the market will be very sad," said Blankfein.

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Blankfein noted that quantitate easing did make a contribution to the margin, if he was in charge of running the economy, he would've done everything that he could of to help, and he thought that the accommodations did help push things in a positive direction.

In terms of who he would like to see as Fed chair, he said that he's like everyone that's been named for consideration.

Blankfein also commented on Goldman Sachs recently becoming part of the Dow Jones Industrial Average, saying that as an institution, they felt terrific about it

"I get a lot o surprises in my line of work. Very few of them are that positive," said Blankfein.

At the time of this writing, Jason Cunningham had no position with the mentioned entities. Visit Jason on Twitter @JasonCunningham.