Golden Finance reports, according to CNBC, potential Federal Reserve chairman and Chief Market Strategist David Zervos of Jefferies stated that Federal Reserve officials should not be intimidated by the potential inflation pressures indicated by the July Producer Price Index being higher than expected. Instead, he advocates for the Federal Reserve to actively adopt accommodative measures now to prevent a slowdown in the labor market, which could actually help create over a million jobs. In the past three Federal Reserve meetings, Zervos has consistently advocated for a 0.5 percentage point reduction in the federal funds rate, and he reiterated this position during an interview. "I absolutely still hold the same view. I think there is a reasonable and very compelling narrative that suggests monetary policy is restrictive. Overall, I see no reason to change that view."