Trump tells Goldman Sachs CEO to ‘focus on being a DJ’ over running bank

US President Donald Trump publicly criticised Goldman Sachs CEO David Solomon on Tuesday, urging him to “focus on being a DJ” instead of running the Wall Street bank. The remarks came via Trump’s social media platform Truth Social, where he accused Solomon and Goldman Sachs of making “bad” economic predictions related to the impact of tariffs on the US economy and markets.

Trump’s comments reflect his long-standing defence of his tariff policies and push back against the warnings issued by major financial institutions including Goldman Sachs. He insisted that tariffs have boosted the US stock market, national wealth, and government revenues without sparking inflation, contrary to the predictions made by Solomon and his economists.

“Trillions of dollars are being taken in on tariffs, which has been incredible for our Country, its Stock Market, its General Wealth, and just about everything else,” Trump wrote. “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.”

The former president accused Solomon and Goldman Sachs of refusing to acknowledge this economic success. “They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong,” Trump added.

Clash over tariffs’ economic effects

Trump argued that the costs of tariffs have been largely borne by companies and foreign governments, not US consumers. This contradicts economic consensus and reports from Goldman Sachs economists, who recently cautioned that the tariffs’ effects on consumer prices were just beginning to materialise.

Goldman Sachs economists issued a note earlier this week warning that additional levies on imports were starting to drive up costs for American households. This contrasts with Trump’s assertions that tariffs had not led to inflation, a claim widely debated among economists and policymakers.

In May, David Solomon expressed concerns about the uncertainty caused by Trump’s trade policies. Speaking to Bloomberg TV, Solomon said the policy actions had “raised the level of uncertainty to a degree I do not think is healthy for investment and growth.”

Solomon elaborated on the real-world consequences of this uncertainty: “As I’m talking to CEOs, as I’m talking to our clients, they are holding back on investment and they’re certainly tightening their belt. You’re going to see some companies laying off employees and running their businesses tighter because of this level of uncertainty.”

Solomon’s dual role: CEO and DJ

Trump’s jab at Solomon’s secondary career as a nightclub DJ has become a point of public discussion. Solomon, who has been Goldman Sachs CEO since 2018, is known for his occasional DJ performances, a hobby some critics argue distracts from his leadership at one of the world’s largest investment banks.

By telling Solomon to “focus on being a DJ,” Trump sought to diminish his credibility and suggest that Solomon’s economic warnings should be disregarded.