The Minutes of David Tepper on fed https://minutesof.com/david-tepper/on/fed/ Everything David Tepper has said on Fed: 13 verbatim quotes between March 2017 and September 2025, each with a timestamp and a link to the recording it… en Sun, 30 Aug 2026 16:22:30 +0000 Tepper says one or two more rate cuts won't be too easy, but beyond that risks repeating the 2000-2001 crash. https://minutesof.com/q/c1179fba-4e66-4b11-8d34-152c46ef7ff9/ https://minutesof.com/q/c1179fba-4e66-4b11-8d34-152c46ef7ff9/ “I don't think another ease matters, you know, as far as being too easy. This is gonna be a little bit restrictive.” — CNBC Television Thu, 18 Sep 2025 13:39:12 +0000 fed Tepper is constructive on Fed easing but concerned about high market valuation levels. https://minutesof.com/q/be7afe27-0406-451e-91b9-b5e22023b0d9/ https://minutesof.com/q/be7afe27-0406-451e-91b9-b5e22023b0d9/ “I'm constructive because of the easing right now, but I'm also miserable because of the levels.” — CNBC Television Thu, 18 Sep 2025 13:39:12 +0000 fed Tepper warns that easing beyond two or three cuts risks a weaker dollar and higher inflation. https://minutesof.com/q/98613b7d-86dc-461e-a13f-83867385a45e/ https://minutesof.com/q/98613b7d-86dc-461e-a13f-83867385a45e/ “Beyond that, I think it can, you know, then you're really risking a lot of things. A weaker dollar, more inflation, and those sort of things.” — CNBC Television Thu, 18 Sep 2025 13:39:12 +0000 fed Tepper says big stocks aren't cheap but he won't fight the Fed in the near term. https://minutesof.com/q/774780b5-935f-44a0-9575-8d749e76b28f/ https://minutesof.com/q/774780b5-935f-44a0-9575-8d749e76b28f/ “The big stocks are not cheap. I mean, so you don't have cheapness here, but you do have a constructive you know, like, you know, I'm not fighting the Fed.” — CNBC Television Thu, 18 Sep 2025 13:39:12 +0000 fed Tepper notes mortgage rates have declined 90 basis points since peaking in early November. https://minutesof.com/q/e714ba01-17f8-4fad-af94-7cd3ab0d2c00/ https://minutesof.com/q/e714ba01-17f8-4fad-af94-7cd3ab0d2c00/ “But the truth is that was in November where rates peaked, mortgage rates peaked in early November. Well, they're down 90 basis points since then.” — CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 fed Tepper says junk spreads down 150 basis points since fall peak, which doesn't help Fed's tightening goals. https://minutesof.com/q/7974d539-4cb5-407d-ae7a-66801b4a4ff8/ https://minutesof.com/q/7974d539-4cb5-407d-ae7a-66801b4a4ff8/ “Junk spreads down 150 basis points since their peak in early October, late September. That doesn't really do a lot for you if you're the fed.” — CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 fed Tepper emphasizes coordinated global tightening is rare and central banks are signaling further tightening ahe https://minutesof.com/q/af849a9b-849e-47dc-afbb-3ad103db13c2/ https://minutesof.com/q/af849a9b-849e-47dc-afbb-3ad103db13c2/ “I mean, we don't have coordinated tightening around the whole world and everybody tightening at the same time too often. You just don't. And I don't have people telling me they're gonna go further tightening.” — CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 fed Tepper says he is leaning short on equities because risk-reward doesn't make sense given central bank guidance https://minutesof.com/q/f6a66f50-d08c-4d95-bed6-8836c265720e/ https://minutesof.com/q/f6a66f50-d08c-4d95-bed6-8836c265720e/ “I would probably say I'm leaning short on the equity markets, you know, so right now, because I think they're, you know, I think the upside downside just doesn't make sense to me when I have so many people telling me, so many central banks telling me what they're going to do,” — CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 fed Tepper says the Fed's 1% real rate target is dead wrong if tax cuts happen and French election goes well. https://minutesof.com/q/04c05440-5395-4483-a483-d9887cc1c26e/ https://minutesof.com/q/04c05440-5395-4483-a483-d9887cc1c26e/ “It's not wrong if there's no tax cuts necessarily. Certainly, if the French election goes the wrong way, not wrong. Not wrong. But it's gonna be dead freaking wrong.” — CNBC Wed, 08 Mar 2017 14:54:29 +0000 fed Tepper warns markets must prepare for Fed hikes in June, September, December and possibly more. https://minutesof.com/q/6189f751-8749-45d7-9b65-31972b90d57c/ https://minutesof.com/q/6189f751-8749-45d7-9b65-31972b90d57c/ “You're gonna bet against these tax things. You're gonna bet against the French election. You better be you better be ready, and the market has to get ready for June increase Yeah.” — CNBC Wed, 08 Mar 2017 14:54:29 +0000 fed Tepper dismisses the view that Fed won't hike in non-press-conference meetings as fallacy. https://minutesof.com/q/b505b391-2850-4f28-8f3b-af73a605c44f/ https://minutesof.com/q/b505b391-2850-4f28-8f3b-af73a605c44f/ “September increase, December increase, and maybe more than that. This is fallacy that says the Fed won't go in on, press conference.” — CNBC Wed, 08 Mar 2017 14:54:29 +0000 fed Tepper argues Fed is far behind where it should be given projected 2.25% inflation by year-end. https://minutesof.com/q/8077faec-1e58-4ffe-885f-a9108254dce2/ https://minutesof.com/q/8077faec-1e58-4ffe-885f-a9108254dce2/ “They'll go a lot because they're so far behind where that 1% real if you're running two and a quarter percent inflation by the end of the year and and you have all these things happen, I think the real rate should be higher sooner because you have all these things happen.” — CNBC Wed, 08 Mar 2017 14:54:29 +0000 fed Tepper says three more hikes this year is more likely than two, questions if fourth should be priced. https://minutesof.com/q/e8cbd0a1-8d8e-4dac-be1c-09f8920902fb/ https://minutesof.com/q/e8cbd0a1-8d8e-4dac-be1c-09f8920902fb/ “So I'm sure that the Fed funds odds are going up as we're speaking, and there's a better chance that they'll go three times more this year than two times more this year.” — CNBC Wed, 08 Mar 2017 14:54:29 +0000 fed