Latest news with #DavidMericle
Yahoo
2 days ago
- Business
- Yahoo
Goldman economist, uncowed by Trump attack, plans to 'keep doing' as before
(Reuters) -A top economist for Goldman Sachs on Wednesday signaled no plans to change how his team conducts and publishes its research after President Donald Trump lashed out at the Wall Street firm and its chief executive because of the research team's estimate that American consumers would bear the brunt of the costs of Trump's tariffs. Chief U.S. Economist David Mericle's defense of his team's work came a day after Trump in a social media post said Goldman Chief Executive David Solomon should "not bother running a major financial institution" and lambasted the bank's economics research. The report Trump attacked, published August 10, estimated that U.S. consumers so far have borne less than a quarter of the cost of Trump's tariffs but that share would rise to two-thirds if the tariffs play out in the same way they had previously. Trump, by contrast, insists that foreign companies and governments are absorbing the cost of tariffs that now average the highest in about a century, and that American households are unscathed. He attacked Goldman and its economists for making "a bad prediction." Asked in a CNBC interview whether Trump's broadside had had a chilling effect on his team's work, Mericle said: "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."
Reuters
2 days ago
- Business
- Reuters
Goldman economist, uncowed by Trump attack, plans to 'keep doing' as before
Aug 13 (Reuters) - A top economist for Goldman Sachs on Wednesday signaled no plans to change how his team conducts and publishes its research after President Donald Trump lashed out at the Wall Street firm and its chief executive because of the research team's estimate that American consumers would bear the brunt of the costs of Trump's tariffs. Chief U.S. Economist David Mericle's defense of his team's work came a day after Trump in a social media post said Goldman Chief Executive David Solomon should "not bother running a major financial institution" and lambasted the bank's economics research. The report Trump attacked, published August 10, estimated that U.S. consumers so far have borne less than a quarter of the cost of Trump's tariffs but that share would rise to two-thirds if the tariffs play out in the same way they had previously. Trump, by contrast, insists that foreign companies and governments are absorbing the cost of tariffs that now average the highest in about a century, and that American households are unscathed. He attacked Goldman and its economists for making "a bad prediction." Asked in a CNBC interview whether Trump's broadside had had a chilling effect on his team's work, Mericle said: "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."
CNBC
2 days ago
- Business
- CNBC
Goldman Sachs' David Mericle on criticism from President Trump: We stand by results of the study
David Mericle, Goldman Sachs chief U.S. economist, joins CNBC's 'Squawk on the Street' to discuss his response to criticism of Goldman Sachs from President Trump, outlooks on how tariffs could impact businesses and consumers, and much more.
Bloomberg
23-07-2025
- Business
- Bloomberg
Goldman Sachs Sees Trump's Baseline Tariff Rate Rising to 15%
Economists at Goldman Sachs Group Inc. expect the US baseline 'reciprocal' tariff rate will rise from 10% to 15%, with a 50% levy on copper and critical minerals — an outcome that threatens to fuel inflation and weigh on economic growth. The investment bank also revised forecasts for US inflation and gross domestic product growth to reflect the new tariff assumption and to factor in 'early lessons' about the impact of the import levies, Chief US Economist David Mericle wrote in a weekly update.
CNBC
17-07-2025
- Business
- CNBC
Goldman Sachs' David Mericle: Latest batch of data suggest 'stakes are not high' for rate cuts
David Mericle, Goldman Sachs chief U.S. economist, joins CNBC's 'Squawk on the Street' to discuss the importance of central bank independence, how the latest economic data could impact the Federal Reserve's path to rate cuts, and much more.
