NEW DELHI: US President Donald Trump has criticised Goldman Sachs CEO David Solomon, saying the bank made a “bad prediction” regarding the impact of his tariff policies on US consumers.
Trump posted on his social media platform Truth Social that “David Solomon and Goldman Sachs refuse to give credit where credit is due.”
“They made a bad prediction a long time ago on both the market repercussions and the tariffs themselves, and they were wrong, just like they are wrong about so much else, " he further said.
“David should go out and get himself a new economist, or maybe he ought to just focus on being a disco jockey (DJ), and not bother running a major financial institution, ” he added.
Trump expressed dissatisfaction with the bank but did not provide a reason. His remarks followed a Sunday note from a Goldman Sachs economist, which indicated that the impact of the new tariffs on consumer prices was just starting to show.
Consumers in the US have borne about 22 per cent of tariff costs up to June, and if the latest tariffs follow previous patterns, their share could increase to 67 per cent, as per Goldman Sachs estimates.