BlockBeats News, August 15, according to CNBC, potential Federal Reserve Chairperson and Chief Market Strategist at Jeffries, David Zervos, 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 take easing measures now to prevent a slowdown in the labor market, which would actually help create over a million jobs.
In the last 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 in a recent interview. 'I absolutely still hold the same view. I believe there is a reasonable and very compelling narrative suggesting that monetary policy is restrictive. Overall, I see no reason to change that view.'