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Trump mocks Goldman CEO and says the bank made an incorrect prediction about tariffs.
President Donald Trump criticized Goldman Sachs CEO David Solomon, saying the bank made an 'incorrect prediction' about the impact of Trump’s broad tariff agenda on markets and consumer costs.
'David Solomon and Goldman Sachs refuse to give credit where credit is due,' the president said on his social media platform on Tuesday. 'They made an incorrect prediction long ago both about the market repercussions and the tariffs themselves, and they were wrong, just as they are wrong about so many other things.'
Trump did not specify why he was upset with the bank, but his statements follow a research note released on Sunday by Goldman economists, which stated that the impact of the president’s tariffs on consumer prices was just beginning to be felt.
UNIQUE OPPORTUNITY.
Consumers in the U.S. absorbed about 22% of the costs of the tariffs by June, but their share is expected to rise to 67% if the latest tariffs follow the pattern of previous years, according to a note from researchers led by Jan Hatzius, the bank's chief economist.
'I think David should hire a new economist or, perhaps, he should just focus on being a DJ, and not worry about running a large financial institution,' Trump added in his post, referring to Solomon's hobby as a disc jockey, which he put on hold after previous criticisms about his management of the bank's strategy.
A spokesperson for Goldman Sachs, based in New York, declined to comment.
President Donald Trump criticized Goldman Sachs CEO David Solomon, saying the bank made an 'incorrect prediction' about the impact of Trump’s broad tariff agenda on markets and consumer costs.
'David Solomon and Goldman Sachs refuse to give credit where credit is due,' the president said on his social media platform on Tuesday. 'They made an incorrect prediction long ago both about the market repercussions and the tariffs themselves, and they were wrong, just as they are wrong about so many other things.'
Trump did not specify why he was upset with the bank, but his statements follow a research note released on Sunday by Goldman economists, which stated that the impact of the president’s tariffs on consumer prices was just beginning to be felt.
UNIQUE OPPORTUNITY.
Consumers in the U.S. absorbed about 22% of the costs of the tariffs by June, but their share is expected to rise to 67% if the latest tariffs follow the pattern of previous years, according to a note from researchers led by Jan Hatzius, the bank's chief economist.
'I think David should hire a new economist or, perhaps, he should just focus on being a DJ, and not worry about running a large financial institution,' Trump added in his post, referring to Solomon's hobby as a disc jockey, which he put on hold after previous criticisms about his management of the bank's strategy.
A spokesperson for Goldman Sachs, based in New York, declined to comment.
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The Brazilian market is experiencing a Tuesday (12) of double optimism: the dollar has returned to trade below R$ 5,40 for the first time since September of last year and the Ibovespa has broken the 138 thousand points, reaching the highest level since May. The combination of weaker inflation in Brazil and the United States has rekindled bets on interest rate cuts in both economies, boosting currencies and risk assets.
This afternoon, around 2 PM, the spot dollar was down 0.89%, quoted at R$ 5,395. Meanwhile, the Ibovespa was up 1.95%, at 138,273 points, supported by stocks like Sabesp (SBSP3), up over 10%, and BTG Pactual (BPAC11), with gains exceeding 12% after corporate results that were above expectations.
This afternoon, around 2 PM, the spot dollar was down 0.89%, quoted at R$ 5,395. Meanwhile, the Ibovespa was up 1.95%, at 138,273 points, supported by stocks like Sabesp (SBSP3), up over 10%, and BTG Pactual (BPAC11), with gains exceeding 12% after corporate results that were above expectations.
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If you think making money on Binance requires capital, think again.
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Binance regularly runs campaigns where you watch short educational videos, pass a quiz, and earn free crypto tokens.
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Pass the quizzes to claim your rewards instantly
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---
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Binance report indicates a rise in the crypto market in July
ETH gains ground over BTC
One of the central points of the report is the change in market dominance. After all, Bitcoin, which had been leading the cycle, lost 5.2 percentage points, falling to 60.6%. At the same time, the best altcoins rose to a 39.2% share.
Ethereum was the big highlight. Since the cryptocurrency appreciated 51% in July, driven by two main factors: a record 19 consecutive days of positive net inflows in ETH ETFs and a surge in corporate treasuries.
One of the central points of the report is the change in market dominance. After all, Bitcoin, which had been leading the cycle, lost 5.2 percentage points, falling to 60.6%. At the same time, the best altcoins rose to a 39.2% share.
Ethereum was the big highlight. Since the cryptocurrency appreciated 51% in July, driven by two main factors: a record 19 consecutive days of positive net inflows in ETH ETFs and a surge in corporate treasuries.
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