Best thing Fed could do is 'move quicker' and cut 50 basis points, says TCW's Bryan Whalen

The Federal Reserve should move more quickly to cut interest rates and should consider slashing a half-percentage point, TCW chief investment officer Bryan Whalen told CNBC on Tuesday

Whalen said the central bank risks waiting too long to respond to deteriorating economic data and should cut rates before the global economy slows further

The Federal Reserve should move more quickly to cut interest rates and should consider slashing a half percentage point, TCW chief investment officer Bryan Whalen told CNBC on Tuesday.

The central bank should cut rates to one percent by the end of the year, Whalen said, and it could get there by implementing a 50-basis point cut at its upcoming meeting in July.

"The market is now starting to price in a much more aggressive Fed," Whalen said in an interview on "Squawk Box." "The best thing the Fed could do right now is to move quicker and cut 50 [basis points] in July and then cut again in September and cut again in December."

Whalen said the Fed risks waiting too long to respond to deteriorating economic data and should cut rates before the global economy slows further.

"We're starting to see the global economy slow down," Whalen said. "The manufacturing data in China was disappointing this morning. We're starting to see some weakness in the U.S. We're starting to see some weakness in Europe. So I think the Fed needs to get ahead of the curve and cut rates sooner rather than later."

The Fed has already cut rates twice this year, in June and July. The central bank is expected to cut rates again at its upcoming meeting in September.

However, some economists believe that the Fed should cut rates more aggressively to stave off a recession. Whalen is one of those economists.

"I think the Fed is behind the curve," Whalen said. "I think they need to move more quickly and cut rates more aggressively."

The Fed has been reluctant to cut rates too quickly, as it worries about stoking inflation. However, Whalen said that inflation is not a major concern at the moment.

"Inflation is not a problem," Whalen said. "We're actually seeing some disinflationary pressures in the economy. So I think the Fed has room to cut rates without worrying about inflation."