US President Donald Trump on Tuesday lashed out at Goldman Sachs CEO David Solomon, stating in a Truth Social post that he should “focus on being a DJ” instead of running the bank. Trump accused Solomon and Goldman Sachs of making “bad” predictions about the impact of tariffs on the US economy and markets. Contrary to their warnings, Trump said the tariffs had boosted the stock market, increased national wealth, and poured money into the Treasury — all without causing inflation. "Trillions of dollars are being taken in on tariffs, which has been incredible for our Country, its Stock Market, its General Wealth, and just about everything else. It has been proven, that even at this late stage, Tariffs have not caused Inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury’s coffers. But 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 repercussion and the Tariffs themselves, and they were wrong," Trump wrote. He argued that the burden of tariffs had largely fallen on companies and foreign governments, not American consumers, challenging the idea that US households ultimately pay for such measures. Earlier in the day, the economists at Goldman Sachs had released a note saying that the impact of additional levies ‘on consumer prices were just starting to be felt.’ In May this year, Solomon had warned of the negative effects of Trump’s tariff policy on investment and growth. Speaking to Bloomberg TV, he said: "The policy actions to date have raised the level of uncertainty to a degree I do not think is healthy for investment and growth.” Solomon added: "And, as I'm talking to CEOs, as I'm talking to our clients, they are holding back on investment and they're certainly tightening their belt." "You're going to see some companies laying off employees and running their businesses tighter because of this level of uncertainty,” he continued. Solomon’s comments reflected concerns among business leaders that prolonged policy uncertainty could reduce capital markets activity and slow economic growth.
