Trump calls on Goldman Sachs to replace their top economist over his tariff stance

President Trump on Tuesday appeared to call for Goldman Sachs Chief Executive David Solomon to replace the bank’s top economist over his past predictions, in his latest move against executives he believes are undermining his goals.

This comes as President Trump touts what he called “massive” revenue being collected by the federal government due to his tariff policies. “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.

Tariff revenue has surged in recent months, rising to nearly $28 billion in July alone, according to the Treasury Department. Trump then wrote, “It has been shown that, for the most part,” companies and foreign governments, rather than consumers, are paying for the tariffs.

Some economists say thought that the full effects of Trump’s tariffs have yet to be felt. Solomon and Goldman “refuse to give credit where credit is due,” Trump wrote, claiming they “made a bad prediction a long time ago on both the Market repercussion and the Tariffs.”

“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,” the president wrote.

The bank’s chief economist, Jan Hatzius, is one of the most followed economists both in Washington, where he’s met with former President Joe Biden and Federal Reserve Chair Jerome Powell, and on Wall Street.

New inflation data published Tuesday showed consumer prices rose a mere 0.2% in July, keeping the annual inflation rate at 2.7%, according to the latest Consumer Price Index.