In the face of blistering criticism from President Donald Trump , Goldman Sachs economist David Mericle on Wednesday stood by a controversial forecast that tariffs will begin to hit consumer wallets.

Trump lashed out at the bank in a Tuesday post on Truth Social, suggesting that CEO David Solomon "get a new Economist" or consider resigning.

Mericle, though, said in a CNBC interview that the firm is confident in its research, the president's objections notwithstanding.

"We stand by the results of this study," he said on " Squawk on the Street ." "If the most recent tariffs, like the April tariff, follow the same pattern that we've seen with those earliest February tariffs, then eventually, by the fall, we estimate that consumers would bear about two-thirds of the cost."

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