Potential Fed Chairman David Zervos supports significant interest rate cuts.

[Potential Fed Chair David Zervos Supports Significant Rate Cuts] According to CNBC, potential Fed Chair and Jefferies Chief Market Strategist David Zervos stated that Fed officials should not be intimidated by the potential inflation pressures indicated by the Producer Price Index in July being higher than expected. Instead, he advocated for the Fed to take aggressive easing measures now to prevent a slowdown in the labor market, which would actually help create over a million jobs. In the past three Fed meetings, Zervos has consistently argued for a 0.5 percentage point cut 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 viewpoint."