Did President Donald Trump publicly call for Goldman Sachs CEO David Solomon to replace the firm’s chief economist after a report forecast that American consumers would bear the majority of tariff costs?

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On August 12, 2025, President Trump took to Truth Social to criticize a Goldman Sachs research note forecasting that, by October 2025, U.S. consumers would absorb roughly 67% of the cost of his tariffs once companies ran through pre-tariff inventory. He wrote that CEO David Solomon should “get himself a new economist or, maybe, he ought to just focus on being a DJ, and not bother running a major Financial Institution,” effectively demanding the firing or replacement of chief economist Jan Hatzius’s team member (). Hatzius, who has been Goldman’s chief economist since 2011, had authored the report showing only 22% pass-through through June, rising to 67% by October, challenging administration claims that foreign producers bear tariff costs ().

Did President Donald Trump publicly call for Goldman Sachs CEO David Solomon to replace the firm’s chief economist after a report forecast that American consumers would bear the majority of tariff costs?

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