Potential Fed chair pick David Zervos of Jefferies backs aggressive interest rate cuts
Wall Street veteran David Zervos added his name to the list of potential federal reserve chairs that think that the Central Bank had passed due to the approval of the reducing interest rate.
Jefferies’ chief market strategist, CNBC, central bankers on the July Producer Price Index, the pipeline inflation pressure should not be scare than expected, he said.
Instead, he defended the Fed movement as a way to predict the slowdown of a labor market and to help create a million more work. For the last three FED meeting, Zervos defended the semi -score deduction at the federal fund ratio and repeated this position during an interview.
“I’m still there. He said. “If we talk in general, I don’t see why [PPI] Looking number changes. “
At the end of the next year, a process with only three or four names to replace the FED President Jerome Powell has expanded to about a dozen in recent days.
Zarvos is participating in a list of current and past officials, at least one Trump management consultant and many other Wall Street economists. Zervos and Blackrock Bond Strategist Rick Rimer from the group is the only person whose past focuses on markets more than the economy.
“I think it will be an incredible benefit of having more market enthusiasts, market -competent people who participated in the monetary policy decision.” He said.
In the early hours of the day, the economist Marc Sumerilin also supported the finalists in the finalists, and said that the Fed was very conservative in the fight against the inflation war.
President Donald Trump forced him hard to cut the Fed, released Powell again and again, and claimed that the Federal Open Market Committee should decrease 3 percent points or 300 basis points from the fund rate of around 4.33%.
“I don’t know that I can go up to 300, but I can definitely reach 200, and if you really force the AI story and the technology story and really force the idea that we have dysflationist pressures from a supply side narrative,” Zervos said.
Zervos added that Trump is not standing by the types of criticism that he leveled in the FED.
“You fully understand that you are involved in this, political process,” he said. “The aim is to guide the discussion by the facts and to direct the best to fulfill the tasks of the Congress.”
