Fed Outlook: Potential Chair Candidates Call for a 0.5 Percentage Point Rate Cut to Stimulate Employment

[Coin World] According to reports, potential Fed Chair candidate and Jefferies Chief Market Strategist David Zervos stated that Fed 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 Fed 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 Fed meetings, Zervos has consistently argued for a 0.5 percentage point cut in the federal funds rate, and he reiterated this stance in an interview. "I absolutely still hold the same view. I believe there is a reasonable and very compelling narrative that indicates the monetary policy is restrictive. Overall, I see no reason to change that view."