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 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,

Key Takeaways Goldman Sachs analysts have cut their projection for S&P 500 growth this year.They cited uncertainty around Trump's tariffs and other economic growth factors as reasons for the recent market sell-off.