According to CoinWorld, potential Federal Reserve Chairman and Chief Market Strategist at Jefferies, David Zervos, stated that Federal Reserve officials should not be intimidated by the higher-than-expected potential inflation pressures indicated by the July Producer Price Index. Instead, he advocates for the Fed to actively implement easing measures now to prevent a slowdown in the labor market, which can actually help create over a million jobs. In the last three Federal Reserve meetings, Zervos has consistently argued 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 believe there is a reasonable and very compelling narrative indicating that monetary policy is restrictive. Overall, I see no reason to change this view."