Goldman Sachs CEO David Solomon participates in an Invest America Roundtable in the State Dining Room at the White House, in Washington, June 9, 2025.<\/p>\n
Evelyn Hockstein | Reuters<\/p>\n
President Donald Trump<\/a> on Tuesday said Goldman Sachs<\/a> CEO David Solomon<\/a> should either replace the bank’s economist or “just focus on being a DJ,” days after Goldman’s chief economist warned that American consumers will pay for an increasing share of new tariffs.<\/p>\n Trump’s broadside against Solomon \u2014 who moonlights as a DJ<\/a> \u2014 came as the president touted what he called “massive” revenue being collected by the federal government due to his tariff policies.<\/p>\n “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<\/a> post.<\/p>\n Tariff revenue has surged in recent months, rising to nearly $28 billion in July alone, according to the Treasury Department. Inflation, meanwhile, has continued to increase, though the latest data showed consumer prices have accelerated slightly less than expected<\/a>.<\/p>\n Trump then wrote, “It has been shown that, for the most part,” companies and foreign governments, rather than consumers, are paying for the tariffs.<\/p>\n But many economists continue to warn that the full effects of Trump’s tariffs have yet to be felt, and numerous businesses have already said that they will have to raise prices in response to U.S. import duties.<\/p>\n FILE PHOTO: DJ D-SOL performs during the ‘Safe & Sound’ Drive-In Concert Fundraiser Presented by JAJA Tequila and In The Know Experiences In Partnership with Bumble at Nova’s Ark Project on July 25, 2020 in Water Mill, New York.<\/p>\n Kevin Mazur | Getty Images<\/p>\n 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.”<\/p>\n “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.<\/p>\n Trump did not name the economist he wants Solomon to replace.<\/p>\n