Goldman Sachs Stands Firm: Consumers Will Bear Brunt of Tariffs, Despite Trump Criticism
Goldman Sachs economist David Mericle defended the firm’s forecast that tariffs will negatively impact consumers despite criticism from President Trump. Mericle asserted Goldman’s research, authored by economist Elsie Peng, indicates consumers will bear approximately two-thirds of the costs. This would push the personal consumption expenditures price index to 3.2% by year-end. The economist believes this effect is a one-time occurrence unlikely to significantly influence the Federal Reserve’s policy decisions, as the labor market remains a primary concern.
John Q. Hosedrinker