Fed Chair Candidate David Zervos Backs Trump And Bessent's Calls For Rate Cuts, Says Policy Is Too Restrictive

David Zervos, one of the 11 Federal Reserve Chair candidates, on Wednesday backed President Donald Trump and Treasury Secretary Scott Bessent's calls for interest rate cuts.

In an interview with CNBC, Zervos, who is currently the Chief Market Strategist for Jefferies, said the Fed's current monetary policy is too restrictive.

“The Balance Sheet of the Fed has now contracted to the point of almost being neutral after being very stimulative for a very long time. And so you're left with rates at a much more restrictive rate without that extra kicker from the Balance Sheet,” Zervos said in the interview.

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