Published on 13/08/2025 – 15:46 GMT+2 ADVERTISEMENT The US federal deficit surged to $291 billion (€248bn) in July, marking a 19% increase from the same month last year and one of the biggest jumps in recent years, according to Treasury Department data. It’s the largest spending total ever recorded for the month of July, though some other months—particularly during the …
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People shop for pet supplies at a pet retail store in New York City, Aug. 12, 2025. Spencer Platt | Getty Images Goldman Sachs is taking the heat for its call that heavier tariff-induced consumer inflation is ahead, but it’s far from alone in that view among its Wall Street brethren. Despite investors’ embrace of Tuesday’s fairly benign consumer price …
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Goldman Sachs is refusing to back away from its analysis that Americans—not foreign exporters or overseas governments—are bearing the majority of costs from President Donald Trump’s sweeping tariffs. The Wall Street giant doubled down this week on chief economist Jan Hatzius’s research as inflation data showed a jump in consumer prices and the political backlash from the White House intensified. …
Read More »MEXICO CITY (AP) — Mexico sent 26 alleged cartel figures to face justice in the United States because the Trump administration requested them and Mexico did not want them to continue running their illicit businesses from Mexican prisons, officials said Wednesday. The mass transfer was not, however, part of wider negotiations as Mexico seeks to avoid higher tariffs threatened by …
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A U.S. flag flutters near a ship as it’s containers are unloaded at the Port of Los Angeles, in San Pedro, California, U.S., May 1, 2025. Mike Blake | Reuters The July container volumes for the Port of Los Angeles tell the tale of the Trump tariff impacts. The front-loading of Chinese goods ahead of the tariff deadline pushed container …
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Aug. 13 (UPI) — President Donald Trump called for Goldman Sachs CEO David Solomon to replace its chief economist after a prediction that consumers would pay the brunt of the cost for tariffs. Trump wrote in a Truth Social post on Tuesday that Solomon and Goldman Sachs “refuse to give credit where credit is due” as he sought to minimize …
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The statue of former Treasury Secretary Albert Gallatin stands in front of the north wing of the U.S. Treasury Department headquarters building on April 24, 2025, in Washington, DC, U.S. J. David Ake | Getty Images News | Getty Images The U.S. government’s budget deficit grew nearly 20% in July to $291 billion despite a nearly $21 billion jump in customs duty collections from …
Read More »Trump rebukes Goldman’s Solomon over bank’s tariff research Reuters Trump tells Goldman Sachs CEO David Solomon to replace bank’s economist over tariff predictions CNBC Trump tells Goldman Sachs CEO to hire a new economist after bank says consumers will pay bulk of tariff costs CNN Trump Mocks Goldman CEO, Says Bank Made Bad Call on Tariffs Bloomberg.com Trump fumes and again insists companies pay …
Read More »US deficit grows to $291 billion in July despite tariff revenue surge ReutersView Full Coverage on Google News Source link
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Goldman Sachs CEO David Solomon participates in an Invest America Roundtable in the State Dining Room at the White House, in Washington, June 9, 2025. Evelyn Hockstein | Reuters President Donald Trump on Tuesday said Goldman Sachs CEO David Solomon should either replace the bank’s economist or “just focus on being a DJ,” days after Goldman’s chief economist warned that …
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