Trump’s DJing taunt at Goldman CEO signals that tariff fight is getting personal

Goldman Sachs CEO David Solomon is shown attending a roundtable discussion with President Donald Trump at the White House in June. - Agence France-Presse/Getty Images

David Solomon, the chair and chief executive of Goldman Sachs Group Inc., is one of the biggest names on Wall Street. He’s now also the latest target of President Donald Trump’s ire.

Trump used his Truth Social media platform, where he has 10.6 million followers, to lash out at Solomon on Tuesday, just one day after economists at Goldman Sachs GS said U.S. businesses have picked up most of the cost of tariffs and that this burden will eventually shift to consumers. To a somewhat surprising degree so far, Trump’s trade policies haven’t resulted in worst-case inflation scenarios coming to fruition, as demonstrated by the benign readings from the consumer-price index for July.

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“It has been proven, that even at this late stage, Tariffs have not caused Inflation, or any other problems for America, other than massive amounts of CASH pouring into our Treasury’s coffers,” Trump wrote in a post on his Truth Social account.

Solomon and Goldman Sachs “refuse to give credit where credit is due,” Trump added. The president then poked fun at Solomon’s hobby as a music DJ who performs under the name DJ D-Sol, adding: “David should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ, and not bother running a major Financial Institution.”

A spokesperson for Goldman Sachs declined to comment. A White House representative could not immediately be reached.

Data released on Tuesday showed that while the impact of Trump’s tariffs filtered into the consumer-price index for July, it was not by enough to reduce expectations for the Federal Reserve to start cutting interest rates in September. Interestingly, traders have even boosted the chances of as many as three quarter-point rate cuts by December.

Financial-market participants responded to the CPI report by pushing the S&P 500 SPX and Nasdaq Composite COMP to record closing highs, while sending yields on 1-month BX:TMUBMUSD01M through 5-year Treasurys BX:TMUBMUSD05Y lower on the day.

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