Goldman Sachs, one of Wall Street's largest banking and investment firms, predicts that consumer prices will increase significantly in the fall due to President Trump's tariffs. Tom Wait reports.

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.

U.S. President Donald Trump hit out at Goldman Sachs CEO David Solomon on Tuesday, saying the bank had been wrong to predict U.S. tariffs would hurt the economy and questioned whether Solomon should lead the Wall Street institution.