Robert Kaplan, vice chairman of Goldman Sachs Group and former governor of the Federal Reserve Bank of Dallas, said it was “absolutely” the right decision for the Federal Reserve not to raise interest rates in July, and called on policymakers to remain open until September. Kaplan believes that the current forces driving up and depressing inflation are intertwined, and that overly rigid forward-looking guidance may be counterproductive. “If I see real improvements, I might be willing to delay and do nothing,” Kaplan said. “But before making a decision, I want to make the most of every bit of time between now and September to avoid being too rigid or deciding positions ahead of time.”

Robert Kaplan, vice chairman of Goldman Sachs Group and former governor of the Federal Reserve Bank of Dallas, said it was “absolutely” the right decision for the Federal Reserve not to raise interest rates in July, and called on policymakers to remain open until September. Kaplan believes that the current forces driving up and depressing inflation are intertwined, and that overly rigid forward-looking guidance may be counterproductive. “If I see real improvements, I might be willing to delay and do nothing,” Kaplan said. “But before making a decision, I want to make the most of every bit of time between now and September to avoid being too rigid or deciding positions ahead of time.”