"We stand by the results of this study,” Goldman economist David Mericle told CNBC's Squawk on the Street on Wednesday.

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.

President Donald Trump thinks that the leader of one of America’s biggest banks should focus on his DJ career—rather than delivering dire forecasts of how Trump’s tariffs will hurt American consumers.