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Eugene

(66,807 posts)
Tue Aug 12, 2025, 07:04 PM Aug 2025

Trump tells Goldman Sachs CEO to hire a new economist after bank says consumers will pay bulk of tariff costs [View all]

Trump tells Goldman Sachs CEO to hire a new economist after bank says consumers will pay bulk of tariff costs (CNN)

Days after Goldman Sachs’ top economists published research claiming price increases stemming from higher tariffs are poised to soon be borne mostly by consumers, President Donald Trump is urging the bank’s CEO, David Solomon, to get a new economist.

“Tariffs have not caused Inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury’s coffers,” Trump wrote in a Truth Social post on Tuesday. “David Solomon and Goldman Sachs refuse to give credit where credit is due.”

“I think that David should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ, and not bother running a major Financial Institution,” Trump added.

-snip-

A report Goldman Sachs economists published over the weekend estimated Americans “absorbed 22% of tariff costs through June,” but that this share will rise to 67% by October if tariffs “follow the same pattern as the earliest ones.” Trump did not specifically reference that report in his post, however.


https://edition.cnn.com/2025/08/12/economy/trump-goldman-sachs
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