CEO of Goldman Sachs Lloyd Blankfein departs after meeting India's Prime Minister Narendra Modi at a breakfast in the Manhattan borough of New York September 29, 2014. REUTERS/Carlo Allegri

(Reuters) - Goldman Sachs Group Inc GS.N is best positioned if the Glass-Steagall Act returns, Chief Executive Lloyd Blankfein said in an interview to CNBC on Tuesday.

U.S. President Donald Trump has been actively considering breaking up big banks, which could push efforts for revival of the Glass-Steagall Act, a Depression-era law that separated commercial lending from investment banking.

Bringing back Glass-Steagall would likely have a significant impact on banks like JPMorgan Chase & Co JPM.N, Bank of America Corp BAC.N and Citigroup C.N that have large highly intertwined commercial lending and investment banking operations, say analysts.

It would impact Goldman Sachs and Morgan Stanley MS.N to a lesser degree although, they would likely have to revert to being standalone investment banks and shed their deposit funding. (reut.rs/2pZsuOu)

During the CNBC interview on Tuesday, Blankfein also commented on the less volatile markets, calling it “worrisome”. “I don’t know what brings us out of the doldrums, but I do know this is not a normal resting state,” he added.

The VIX index of implied volatility on the S&P 500 .VIX - the so-called Wall Street "fear gauge" - fell to its lowest intraday level since December 2006 on Tuesday.

The U.S. economy could grow at a faster rate than it is growing now, Blankfein told CNBC in response to a question on whether the Trump administration’s 3 percent growth target is achievable.