Goldman Sachs: Americans will bear two-thirds of tarrif costs

[BLMFem]

No amount of "alternative facts" will change reality, the reality being that tariffs are a huge tax increase for the average American. But hey, someone's gotta pay for the tax breaks the rich will get, and we all know it's not gonna be Mexico.😄

 

Goldman Sachs doubles down on tariff research that infuriated Trump, saying average Americans will bear two-thirds of the costs

https://archive.ph/WCxMH

 

"Goldman’s latest report, published on Sunday, maintains that while U.S. businesses have so far shouldered most of the financial pain from tariffs, the share picked up by everyday Americans is set to rise sharply. As of June, consumers had absorbed 22% of total tariff costs, Hatzius calculated, adding the number is projected to leap to 67% by October if the pattern seen in early rounds of Trump’s trade actions continues.

Goldman economists forecast the core personal consumption expenditures (PCE) inflation gauge will surge to 3.2% by the end of the year if tariffs remain in place, with about 0.7 percentage points of that attributable directly to the tariff regime—substantially above the underlying trend inflation of 2.4%."