Goldman Sachs chief economist responds to Trump's criticism: will continue to independently publish research reports
Goldman Sachs Chief Economist David Mericle responded to Trump's criticism, stating that they will continue to independently publish research reports. He emphasized that the team's research approach will not change, despite Trump's criticism of Goldman Sachs' economic research, which claims that consumers have not borne the cost of tariffs. In an interview, Mericle stated that the team's goal is to provide clients with the best economic forecasts and will continue to publish relevant research
Reuters, August 13 - A chief economist at Goldman Sachs stated on Wednesday that he has no plans to change the way his team conducts or publishes research. This comes after U.S. President Trump sharply criticized the Wall Street firm and its CEO for its research team's estimate that American consumers would bear most of the costs of Trump's tariffs.
Goldman Sachs' Chief U.S. Economist David Mericle defended his team's research. The day before, Trump posted on social media that Goldman Sachs CEO David Solomon "should not be running a large financial institution at all," and criticized the bank's economic research. The report criticized by Trump was released on August 10, estimating that American consumers have so far borne less than a quarter of the tariff costs, but if tariffs continue to be implemented as before, that proportion will rise to two-thirds.
In contrast, Trump insisted that the costs of tariffs are borne by foreign companies and governments, and that American households have not been affected. He criticized Goldman Sachs and its economists for making "wrong predictions."
When asked in a CNBC interview whether Trump's criticism had a chilling effect on the team's work, Mericle stated, "We are just trying to make the best economic forecasts for our clients and publish research reports like the one we released over the weekend to support those views. We will continue to do so."
