Paul Tudor Jones, founder of Tudor Investment Corp., says that he thinks the Fed is “managing for the balance sheet as opposed to local economic conditions” because “you typically see the Fed respond with an easing” when the current macroeconomic conditions are present. “Normally, where you’d see a lot of interest rate relief, globally” he continued, “it is different this time” because of concerns with a “tail risk” of debt. He suggests this “points to a choppier market” ahead.

Marc Lasy, co-founder of Avenue Capital Group, said the Fed needs to raise rates because the U.S. economy is “doing great” relative to the rest of the world and “”[y]ou need to get back to a little more normality.” Bill Gross, who runs the Janus Global Unconstrained Bond Fund, said the Fed needs to raise rates to restore balance to the economy. “Capitalism will not thrive at zero percent,” he said.