Trump Urges Major Banks to Replace Economists Over Tariff Dispute

Former President Donald TRUMP escalated his critique of economic forecasts, calling for America's largest banks to dismiss chief economists whose analyses contradict his trade policy claims. The directive came via Truth Social, where Trump asserted tariffs have generated "massive" Treasury revenue without fueling inflation—a stance at odds with Goldman Sachs research.

Federal data shows tariff collections surged to $28 billion in July, though consumer price growth persists. Trump maintains foreign entities bear most tariff costs, rejecting Goldman economist Jan Hatzius' projection that U.S. consumers already shoulder 22% of the burden—a figure that could reach 67% by October.

The confrontation highlights widening fissures between political narratives and financial institutions' risk assessments. Markets showed muted reaction to the rhetoric, with major cryptocurrencies maintaining established trading ranges amid the macroeconomic debate.