What Tom Lee Sees as the Biggest Winners If the Fed Cuts Rates This September

Fed Rate Cut Could Reshape Markets in September The US Federal Reserve (Fed) may cut interest rates at its September 2025 meeting, and analysts believe this move could trigger sharp gains across technology stocks and cryptocurrencies. Fundstrat Co-Founder and BitMine Chairman Tom Lee told CNBC that the Nasdaq 100, Bitcoin, and Ethereum stand to benefit the most.

The Federal Open Market Committee (FOMC) meets on September 16–17. At its last meeting, the Fed kept rates unchanged, but expectations are now leaning heavily toward easing.

According to CME exchange data, markets assign a 96. 1% probability to a 25-basis-point cut and a 3.

9% chance of a larger 50-basis-point reduction. Tom Lee argues that rate cuts will inject liquidity into the economy, giving confidence to both businesses and investors.

He points to the slowing labor market and the ISM Manufacturing PMI, which has been under 50 for 31 consecutive months, as signs of economic caution. “CEOs need confidence the Fed will act,” Lee said.

“That cut will lead to a big influx of liquidity. ” Lee also highlighted that major financial institutions like JPMorgan Chase and Goldman Sachs are reinventing themselves as fintech-driven firms, investing heavily in artificial intelligence and blockchain to modernize operations and reduce costs.

The Biggest Winners According to Tom Lee Lee identified three groups that could gain the most from rate cuts: Nasdaq 100 index stocks, especially in technology and AI Bitcoin and Ethereum, which he says could make a “monster move” in the coming months Small businesses and parts of the financial sector, though Lee emphasized the strongest gains are likely in crypto and tech He also drew parallels to September 1998 and 2024, when the Fed first held rates steady before pivoting to cuts that fueled market rallies.

Wall Street’s Dive Into Blockchain Lee believes blockchain will be a critical driver of transformation for banks. “The biggest expense for banks is labor, and that’s where they can save money by moving to blockchain,” he explained.

BitMine, the company he chairs, is already one of the world’s largest corporate holders of Ethereum, with total assets of $10. 8 billion as of September 15, 2025.