The CEO of Goldman Sachs weighed in on Vice President Harris’ comments during Tuesday night’s presidential debate in which she touted the investment bank’s analysis of the benefits of her economic plan, saying the Democrat nominee made the report seem like a bigger deal than reality shows.
“I am offering what I describe as an opportunity economy, and the best economists in our country, if not the world, have reviewed our relative plans for the future of America,” Harris said during the debate. “What Goldman Sachs has said is that Donald Trump’s plan would make the economy worse, mine would strengthen the economy.”
Goldman Sachs CEO David Solomon said in a Wednesday appearance on CNBC, “So, that report, which was mentioned last night in the debate, came from an independent analyst, and it’s interesting, Scott, I think a lot more has been made of this than should be.”
“What the report did is it looked at a handful of policy issues that have been put out by both sides, and it tried to model their impact on GDP growth,” Solomon explained. “The reason I say a bigger deal has been made of it is what it showed is the difference between the sets of policies that they’ve put forward is about two-tenths of 1%.”
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“So, the economy grows, if you took these particular sets of policies they looked at – and by the way, we have no idea whether these policies, these things that are talked about, will ultimately be implemented – and what was the growth impact? And the differential was two-tenths of 1%,” Solomon said.
“I think our clients are trying to look at what’s going on from a policy perspective and make judgments. I think this blew up into something that’s bigger than what it was intended to be,” Solomon said.
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Reuters reported that the analysis in question said that higher tariffs and tighter immigration policy under a potential Trump administration “would outweigh the positive fiscal impulse” of other policies to bring down GDP growth.
Further, it predicted that Democrats’ spending policies and tax credits would “slightly more than offset lower investment due to higher corporate tax rates” and result “in a very slight boost to GDP growth on average over 2025-2026.”
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FOX Business reached out to Goldman Sachs for comment.
Reuters contributed to this report.
