President Donald Trump's tariff fight risks elevating the Federal Reserve's preferred inflation rate to about 3%, according to a new baseline estimate from Goldman Sachs. That's a chief takeaway from

Goldman Sachs has trimmed its 2025-end target for the S&P 500 Index to 6,200 from 6,500, citing increased policy uncertainty, particularly on tariffs, and worries about the economic growth outlook.

Goldman Sachs CEO David Solomon said that the business community “understands” what President Trump is trying to do with levies on various goods, even though they want “lower tariffs everywhere.” Solomon also said during an interview with Fox Business’s Maria Bartiromo that Trump is more “engaged” with the business community than his White House predecessor,

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Goldman Sachs analysts have lowered their forecast for the S&P 500 this year following a broad sell-off to start this week amid uncertainty around the Trump administration's proposed tariffs and the economic outlook.