Kevin O’Leary Doubts Fed Will Cut Rates in December

Markets put the odds of a Federal Reserve interest rate cut at the December meeting near 90%, according to tools like CME’s FedWatch and Polymarket. But Shark Tank’s Kevin O’Leary isn’t buying it. In interviews this week, he said flat out: “I don’t actually think the Fed’s going to cut in December.” He told Cointelegraph and others there’s too much inflation still hanging around.

Why O’Leary Sees No Cut Coming

O’Leary points to the Fed’s dual mandate: full employment and keeping inflation in check. Inflation hit 3% annually in September, the highest since January, per data he cited in talks with Forbes and Yahoo Finance. Tariffs are kicking in, driving up input costs, which makes easing policy trickier.

“There are lots of reasons why they might not [cut],” he said. He’s not basing his investments on a rate cut happening. A weak ADP jobs report—showing a 32,000 drop in private payrolls—pushed markets toward cut bets, but O’Leary sticks to inflation worries.

Can You Trust O’Leary on This?

O’Leary, aka Mr. Wonderful, isn’t just a TV guy. He’s a longtime portfolio manager and entrepreneur who’s put money into crypto ventures and holds Bitcoin himself. That track record gives his takes weight, especially when he’s countering the crowd on Fed moves and digital assets, as Yahoo Finance, TipRanks, and TheStreet note. Crypto traders often chase central bank signals, and he’s been vocal about how institutions see Bitcoin.

What It Means for Bitcoin

Even if the Fed surprises and holds rates steady—or cuts—O’Leary says it won’t move Bitcoin much. “It’s not gonna make a difference to Bitcoin,” he told Cointelegraph. Right now, with BTC around $91,000 to $93,000, he sees it drifting within 5% either way, no big upside push ahead, per TradingView and Cointelegraph reports.