According to CoinMeta, Robert Kaplan, an analyst at Goldman Sachs Group, stated that the Federal Reserve's decision not to raise interest rates in July was “absolutely” correct and urged policymakers to remain open-minded before September, arguing that the factors affecting inflation are complex, and rigid forward guidance could have the opposite effect. He pointed out that current forces influencing inflation include inflationary pressures from artificial intelligence development, tariffs, labor constraints, and soaring oil prices. At the same time, the application of artificial intelligence has accelerated the trend of inflation cooling down. Kaplan believes that Powell should use his speech at this month's Jackson Hole Symposium to briefly explain the reasons behind the Fed's inaction in July, rather than delivering a purely “philosophical” address. His concerns about the long-term U.S. Treasury market are greater than those regarding the federal funds rate itself; he believes that the rebound in long-term Treasury yields reflects a structural supply-demand imbalance driven by persistent large fiscal deficits, rather than Fed policy.