Arabic version: ديفيد زيرفوس ينضم إلى وزارة الخزانة مستشارًا لبيسنت

According to Cnbc, Treasury Secretary Scott Bessent has hired longtime Jefferies chief market strategist David Zervos as a counselor at the Treasury Department. Zervos will serve in a broad advisory capacity and is expected to begin immediately. The position does not require Senate confirmation.

Zervos joins Treasury after more than 15 years at Jefferies, where he has worked since 2010, and after years covering Federal Reserve policy and financial markets. He has a doctorate in economics and previously worked at the Fed twice: first in the early 1990s on technical economics and interest-rate research, and again in 2009 as a visiting adviser following the financial crisis.

In a brief interview, Zervos described himself as a “Wall Street geek” and said he was excited for his third stint in government. He praised Bessent’s handling of the economy through periods involving trade and war. Zervos has supported Bessent’s decision to increase buybacks of some long-term Treasury debt and has called for lower interest rates from the Federal Reserve.

The appointment comes as Treasury confronts rising bond yields, artificial-intelligence-related capital spending and economic policy debates. The 10-year Treasury yield reached 5.2% Friday, its highest level since 2007, as a strong economy, competition for capital from the AI buildout, inflation concerns and the Iran war affected markets. Zervos said in an email to clients that he will serve as a special government employee and expects his term to end in April 2027.