According to CoinMeta, Goldman Sachs' chief economist Jan Hatzius stated in an interview with Fox Business that he expects the consumer price index (CPI) data for July to be similar to the modest figures from June, with a month-on-month increase of about 0.05% and the core CPI approaching 0.19%. These figures are expected to be in line with or slightly below market consensus. If the data meets expectations, it will alleviate the pressure on the Federal Reserve in September. Hatzius also noted that Goldman Sachs has significantly lowered its forecast for monthly job creations from around 75,000 to just 5,000, reflecting the rapid deterioration of the labor market. He believes that there is no need for interest rate hikes this year, and the continued decline in rent and wage inflation will help to achieve this goal.