U.S. President Donald Trump's criticism of Goldman Sachs' research on tariff risks could prompt some analysts to water down their research, investors and academics said, an outcome that could leave investors with less reliable information.

The reams of research that banks such as Goldman produce are used by institutional investors, such as hedge funds and asset managers, in deciding how to allocate capital.

Trump's comments — in which he lambasted Goldman, its economics team and CEO David Solomon and accused them of making "a bad prediction" — have triggered a debate on Wall Street about the possible fallout, according to interviews with banking industry sources and investors.