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US President Donald Trump criticised Goldman Sachs’ prediction that US tariffs would hurt the economy, calling it wrong and questioning whether chief executive David Solomon should be running the investment bank.
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In a social media post, Trump said foreign companies and governments were bearing most of the costs from his tariffs, accusing Goldman of misjudging both the market impact and the duties themselves.
He suggested Solomon should “find a new economist” and joked that the CEO might be better off focusing on his DJ hobby than managing a major financial institution.
Trump did not specify which Goldman research he was referring to.
Goldman chief economist Jan Hatzius and colleagues recently estimated that as of June, US consumers had borne 22 percent of tariff costs, a figure they said could rise to 67 percent if current policies remain in place.
Solomon, who recently stepped back from DJing, is the latest corporate leader to draw Trump’s ire, underscoring the sensitivity businesses face over tariff policy.
Goldman joins other Wall Street banks, including JPMorgan Chase and Bank of America, that Trump has accused of discriminating against him and his supporters.
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