“ Maybe he should simply focus on being a DJ ”: Trump tears the CEO of Goldman Sachs

Trump’s reprimand – delivered through a sharp article on its Truth social platform – came in response to a research note published by Hatzius on Sunday showing that American consumers have a significant share of costs resulting from prices imposed during Trump’s trade battles. “Our estimates imply that American consumers have absorbed 22% of tariff costs until June, but that their share will likely increase to 67% by October if the subsequent prices have the same impact over time as the first prices,” wrote the team led by Hatzius.

Trump, however, categorically rejected the conclusions of Goldman Sachs, insisting that “billions of dollars are taken in prices, which was incredible for our country, its stock market, its general wealth and almost everything else.” He said, without proof, that it was “proven” that consumers do not pay prices, but rather businesses and governments, “for the most part … picking up the tabs”.

The commercial rate of prices seems to generate significant income, but it will take years to reach the billions of dollars, as Trump said. A respected, not partisan Think Tank-Hawk, the committee for a responsible federal budget, calculated $ 25 billion in tariff income recovery in July and provided a transport of $ 1.3 billion by the end of Trump’s mandate in office. In July, Morgan Stanley evaluated the image of the development rate as a “mosaic” which will bring about 2.7 dollars over a decade.

Trump tactics

The affronts on prices occurs while the inflation data published on Tuesday showed that consumer prices increased by 0.2% in July in June and by 2.7% in the past year. Trump tried to run these figures as proof that his trade policies have not intimidated inflation on the run. “The prices have not caused inflation or other problems for America, apart from the massive quantities of silver spilled in the chests of our treasure,” he said.

Public Fussection adds the Goldman Sachs Salomon to a growing list of business titans targeted by Trump, including Apple Tim Cook CEO, Lip Bu-Tan of Intel and Elon Musk de Tesla, which were all criticized for a perceived criticism of the Trump administration.

Earlier Tuesday, Trump attacked the president of the federal reserve Jerome Powell, after the report on the consumer price index for July showed that inflation was colder than expected – although “basic” inflation has reached its highest reading in five months. “Jérôme” Too late “Powell must now reduce the rate,” wrote Trump on Trum Social on the refusal of the President of the Central Bank to move on interest rates. He added that he “plans to authorize a major legal action against Powell to proceed” due to an entirely distinct question: the current and overcomed renovation of $ 2.5 billion from the headquarters of the Federal Reserve in Washington DC.

Neither Solomon nor Hatzius responded publicly to the large Duside of Trump. Goldman Sachs refused to comment. The White House did not immediately offer a comment, when it was contacted.

For this story, Fortune Used a generative AI to help an initial project. An editor checked the accuracy of the information before the publication.