(Bloomberg) -- Investors overreacted to Federal Reserve Chairman Ben S. Bernanke’s comments that the central bank could reduce monthly bond purchases, Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein said.

“The market overreacted,” Blankfein, 58, said today in an interview on CNBC. “The market, of course, took this as ‘Oh my God, it’s the first moment and it was going to be an avalanche.’ And that doesn’t necessarily have to be the case.”

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