Trump Says Goldman Sachs CEO Should 'Get A New Economist' After Bank’s Tariff And Market Forecasts

Benzinga

Trump on Tuesday called for Goldman Sachs CEO David Solomon to replace the bank’s top economist over past predictions on tariffs and the economy, according to The Wall Street Journal. Trump wrote on Truth Social that Solomon should “get himself a new Economist” because Goldman Sachs made a “bad prediction” on the market and tariffs. He claimed tariffs have not caused inflation or other economic problems. The comments appeared aimed at Jan Hatzius, Goldman’s longtime chief economist. He is well-known on Wall Street for forecasting in 2008 that mortgage defaults could lead to a severe recession. Hatzius' team recently reported U.S. consumers could absorb up to 67% of tariff costs over time, aligning with other economists’ views.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02President Trump on Tuesday called for Goldman Sachs CEO David Solomon to replace the bank's

00:06top economists over past predictions on tariffs and the economy, according to the Wall Street

00:10Journal. Trump wrote on True Social that Solomon should get himself a new economist because

00:14Goldman Sachs made a bad prediction on the markets and tariffs. He claimed tariffs have

00:18not caused inflation or other economic problems. Comments appeared aimed at Jan Hitesuz,

00:23Goldman's longtime chief economist. He's won on Wall Street for forecasting in 2008

00:27that mortgage defaults could lead to a severe recession. Hitesuz's team recently reported

00:32U.S. consumers could absorb up to 67 percent of tariff costs over time,

00:36aligning with other economists' views. For all things money, visit Benzinga.com.

Category

Transcript

Comments

Recommended