Intel stock extends gains after report of possible U.S. government stake
Investing.com -- Goldman Sachs Chief U.S. Economist David Mericle said Wednesday his team will continue its research work as usual after President Donald Trump criticized the bank’s recent report on tariffs.
Mericle’s comments came in response to Trump’s social media attack on Tuesday, where the president said Goldman Chief Executive David Solomon should "not bother running a major financial institution" and criticized the bank’s economics research.
The dispute centers on a Goldman Sachs report published on August 10, which estimated that U.S. consumers have so far paid less than 25% of Trump’s tariff costs, but that share would increase to approximately two-thirds if the tariffs follow previous patterns.
This analysis contradicts Trump’s position that foreign companies and governments are paying for the tariffs, which are currently at their highest average level in about a century, while American households remain unaffected. Trump called Goldman’s work "a bad prediction."
When asked during a CNBC interview if Trump’s criticism affected his team’s approach, Mericle stated: "We’re just trying to do the best economic forecast that we can for our clients, and we publish research reports like the one that we published over the weekend to inform those views. And we’ll keep doing that."
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