Trump mocks Goldman Sachs CEO David Solomon: 'Maybe, he ought to just focus on being a DJ'

Tue, Aug 12, 2025, 12:28 PM 2 min read

• Donald Trump attacked Goldman Sachs and its leader, David Solomon.

• Trump ridiculed Solomon's DJing hobby.

• Goldman economists have warned that consumers will increasingly bear the brunt of tariffs.

Goldman Sachs CEO David Solomon is probably wondering how he got here.

President Donald Trump on Tuesday criticized the investment bank for not giving his trade policy enough "credit." It's not immediately clear what sparked Trump's ire, but the president laid into Solomon directly, even calling out the longtime CEO's DJing hobby.

"I think that 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," Trump wrote on Truth Social.

Goldman economists warned in an August research report this month that consumers would increasingly bear the cost of tariffs, Bloomberg News reported. Goldman declined to comment to Business Insider.

Trump and the White House have repeatedly said that consumers will not have to pay higher prices due to tariffs. A number of prominent companies, including Walmart, Nike, and Nintendo, have said they raised prices or will consider doing so as a result of tariffs.

Solomon, like others on Wall Street, warned in April about broader "uncertainty" in the markets following Trump's "Liberation Day" announcement of tariffs on a wide range of countries. Solomon told the Financial Times in 2023 that he DJed his daughter's wedding but that his "hobby" would not distract him from his full-time job.

"David Solomon and Goldman Sachs refuse to give credit where credit is due," Trump wrote. "They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else."

Trump's Tuesday post followed the closely watched July consumer price index report, a key inflation measure. The Bureau of Labor Statistics said the year-over-year inflation rate held at 2.7%, surpassing analyst expectations of a higher 2.8% rate.

The Federal Reserve has held interest rates steady amid Chairman Jerome Powell's wait-and-see approach to the inflationary impact of tariffs. Trump took Tuesday's numbers as a sign of victory.

"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 on Truth Social.