The Julia La Roche Show #280 Chris Whalen On Why The Fed Won't Be Cutting Rates In September
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Aug 13, 2025 Chris Whalen, Chairman of Whalen Global Advisors and a prominent Wall Street analyst, shares his insights on the Federal Reserve's unlikely rate cuts this September amid persistent inflation. He discusses upcoming reforms under Trump's nominee, Steve Mirren, which may enhance Fed independence. Whalen also expresses bullish sentiments on gold as a sound money alternative and anticipates significant shifts in the housing market by 2028. He warns of risks from crypto platform failures while highlighting SoFi's impressive performance compared to Bitcoin.
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September Cut Isn't A Sure Thing
- Chris Whalen judges a September Fed rate cut as unlikely because the FOMC lacks a clear majority for cuts.
- He puts the probability around one in three and warns markets would be disappointed if no cut occurs.
Fed's Mission Creep Will Be Reversed
- Whalen expects radical governance changes at the Fed under Trump's nominee Steve Mirren to narrow the Fed's mission back to monetary policy.
- He argues the Fed has become an economic planning agency and needs to be reined in.
Decentralize The Fed To Restore Independence
- Whalen advises removing the Board of Governors from Washington to restore independence and rotate regional reserve bank leadership.
- He says decentralizing and rotating the chair would reduce political pressure on the Fed.
